Bank of New York Mellon Corp Boosts Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Bank of New York Mellon Corp boosted its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,343 shares of the financial services provider’s stock after buying an additional 4,126 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.22% of S&T Bancorp worth $15,638,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC raised its stake in shares of S&T Bancorp by 5,870.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,015 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 998 shares in the last quarter. EntryPoint Capital LLC raised its position in S&T Bancorp by 188.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,854 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 1,863 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of S&T Bancorp in the 1st quarter worth $152,000. Allegheny Financial Group LTD purchased a new stake in shares of S&T Bancorp in the 4th quarter worth $206,000. Finally, D.A. Davidson & CO. bought a new position in shares of S&T Bancorp during the 4th quarter worth $211,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Stock Down 1.2 %

S&T Bancorp stock opened at $41.25 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.58 billion, a P/E ratio of 11.69 and a beta of 0.79. The business has a fifty day moving average of $39.91 and a two-hundred day moving average of $34.26. S&T Bancorp, Inc. has a twelve month low of $24.51 and a twelve month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. The firm had revenue of $142.07 million during the quarter, compared to analysts’ expectations of $95.85 million. During the same period in the prior year, the business posted $0.89 EPS. On average, analysts forecast that S&T Bancorp, Inc. will post 3.31 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp’s payout ratio is currently 37.39%.

Analysts Set New Price Targets

Several research firms recently weighed in on STBA. StockNews.com downgraded S&T Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. DA Davidson boosted their price target on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 19th.

S&T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.