Rhumbline Advisers Decreases Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Rhumbline Advisers trimmed its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,876 shares of the financial services provider’s stock after selling 1,369 shares during the quarter. Rhumbline Advisers owned about 0.31% of S&T Bancorp worth $3,936,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of S&T Bancorp during the second quarter worth about $53,000. Panagora Asset Management Inc. lifted its stake in shares of S&T Bancorp by 3.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 227,271 shares of the financial services provider’s stock worth $7,589,000 after acquiring an additional 6,518 shares during the period. Legato Capital Management LLC raised its stake 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 worth $1,067,000 after buying an additional 703 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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, Louisiana State Employees Retirement System grew its holdings in S&T Bancorp by 1.6% during the second 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. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Stock Performance

NASDAQ STBA opened at $42.98 on Tuesday. The business has a 50 day moving average price of $40.96 and a 200 day moving average price of $34.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $1.64 billion, a P/E ratio of 12.18 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.

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

S&T Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.33 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.32 annualized dividend and a yield of 3.07%. S&T Bancorp’s dividend payout ratio (DPR) is presently 37.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on STBA shares. 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 report on Friday, July 19th. StockNews.com cut shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th.

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.