Thrivent Financial for Lutherans Trims Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

Thrivent Financial for Lutherans reduced its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 59.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,741 shares of the financial services provider’s stock after selling 46,207 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of S&T Bancorp worth $1,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased 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 valued at $641,000 after buying an additional 300 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in S&T Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock valued at $1,073,000 after buying an additional 432 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in S&T Bancorp by 4.2% during the second quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock valued at $486,000 after buying an additional 584 shares during the last quarter. Legato Capital Management LLC increased its holdings in S&T Bancorp by 2.2% during the second 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 last quarter. Finally, Diversified Trust Co increased its holdings in S&T Bancorp by 8.4% during the second quarter. Diversified Trust Co now owns 11,688 shares of the financial services provider’s stock valued at $390,000 after buying an additional 902 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Stock Performance

STBA opened at $39.68 on Friday. The firm has a market cap of $1.52 billion, a P/E ratio of 11.24 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 company has a 50 day simple moving average of $41.60 and a two-hundred day simple moving average of $35.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99.

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 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 business had revenue of $142.07 million during the quarter, compared to analyst estimates of $95.85 million. During the same period in the prior year, the business posted $0.89 earnings per share. Equities 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 business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.33%. S&T Bancorp’s dividend payout ratio is 37.39%.

Wall Street Analyst Weigh In

STBA has been the subject of a number of recent analyst reports. DA Davidson upped their price target on shares of S&T Bancorp from $32.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. StockNews.com lowered shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday.

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.