ProShare Advisors LLC Sells 38,674 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

ProShare Advisors LLC reduced its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 15.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,543 shares of the financial services provider’s stock after selling 38,674 shares during the period. ProShare Advisors LLC owned 0.55% of S&T Bancorp worth $7,030,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in STBA. Norges Bank bought a new stake in S&T Bancorp during the 4th quarter worth approximately $9,055,000. Earnest Partners LLC grew its stake in S&T Bancorp by 569.7% during the first quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock valued at $7,704,000 after acquiring an additional 204,281 shares in the last quarter. American Century Companies Inc. increased its holdings in S&T Bancorp by 29.0% in the 2nd quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider’s stock valued at $19,761,000 after acquiring an additional 133,108 shares during the last quarter. SpiderRock Advisors LLC bought a new stake in S&T Bancorp in the 1st quarter valued at $2,234,000. Finally, Vanguard Group Inc. lifted its stake in S&T Bancorp by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock worth $154,291,000 after purchasing an additional 52,075 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Stock Performance

Shares of NASDAQ:STBA opened at $41.99 on Wednesday. The firm has a fifty day simple moving average of $41.88 and a two-hundred day simple moving average of $35.24. S&T Bancorp, Inc. has a 52 week low of $24.51 and a 52 week high of $45.79. 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 stock has a market capitalization of $1.61 billion, a P/E ratio of 11.90 and a beta of 0.79.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.14. The company had revenue of $142.07 million for the quarter, compared to analyst estimates of $95.85 million. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, analysts expect that S&T Bancorp, Inc. will post 3.31 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.14%. S&T Bancorp’s dividend payout ratio is presently 37.39%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on STBA shares. StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. DA Davidson lifted their price objective on S&T Bancorp from $32.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th.

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.