S&T Bancorp, Inc. (NASDAQ:STBA) Shares Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lifted its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,557 shares of the financial services provider’s stock after buying an additional 584 shares during the period. HBK Sorce Advisory LLC’s holdings in S&T Bancorp were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STBA. Vanguard Group Inc. lifted its holdings in S&T Bancorp by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock valued at $154,291,000 after acquiring an additional 52,075 shares during the period. Dimensional Fund Advisors LP boosted its holdings in S&T Bancorp by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,384,380 shares of the financial services provider’s stock worth $79,687,000 after buying an additional 30,384 shares in the last quarter. American Century Companies Inc. grew its position in S&T Bancorp by 29.0% during the second quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider’s stock worth $19,761,000 after buying an additional 133,108 shares during the period. Bank of New York Mellon Corp increased its holdings in S&T Bancorp by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock valued at $15,638,000 after buying an additional 4,126 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of S&T Bancorp during the 4th quarter valued at approximately $9,055,000. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Price Performance

S&T Bancorp stock opened at $42.29 on Friday. 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 company has a market cap of $1.62 billion, a price-to-earnings ratio of 11.98 and a beta of 0.79. S&T Bancorp, Inc. has a 1 year low of $24.51 and a 1 year high of $45.79. The firm has a 50 day moving average price of $40.76 and a 200 day moving average price of $34.64.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $142.07 million for the quarter, compared to analyst estimates of $95.85 million. During the same period last year, the company posted $0.89 EPS. Sell-side analysts predict that S&T Bancorp, Inc. will post 3.31 earnings per share for the current year.

S&T Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp’s payout ratio is currently 37.39%.

Wall Street Analyst Weigh In

STBA has been the topic of a number of research reports. StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. DA Davidson upped their target price on 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 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.