Rhumbline Advisers Lowers Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Rhumbline Advisers lowered its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,876 shares of the financial services provider’s stock after selling 1,369 shares during the quarter. Rhumbline Advisers’ holdings in S&T Bancorp were worth $3,936,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of STBA. Innealta Capital LLC purchased a new stake in S&T Bancorp in the second quarter valued at approximately $53,000. Panagora Asset Management Inc. grew its stake in shares of S&T Bancorp by 3.0% in the second quarter. Panagora Asset Management Inc. now owns 227,271 shares of the financial services provider’s stock valued at $7,589,000 after buying an additional 6,518 shares in the last quarter. Legato Capital Management LLC raised its holdings in shares of S&T Bancorp by 2.2% during the 2nd quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock valued at $1,067,000 after buying an additional 703 shares during the period. Bank of New York Mellon Corp lifted its position in S&T Bancorp by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock worth $15,638,000 after acquiring an additional 4,126 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in S&T Bancorp by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after acquiring an additional 300 shares during the period. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on STBA. DA Davidson raised their target price on S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $42.98 on Tuesday. S&T Bancorp, Inc. has a one year low of $24.51 and a one year high of $45.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 12.18 and a beta of 0.79. The company’s 50-day simple moving average is $40.96 and its 200-day simple moving average is $34.75.

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

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, August 8th. S&T Bancorp’s payout ratio is 37.39%.

About S&T Bancorp

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.