California State Teachers Retirement System Reduces Position in S&T Bancorp, Inc. (STBA)

California State Teachers Retirement System reduced its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 9.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 60,949 shares of the financial services provider’s stock after selling 6,266 shares during the period. California State Teachers Retirement System owned about 0.17% of S&T Bancorp worth $2,186,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of STBA. TIAA CREF Investment Management LLC grew its holdings in shares of S&T Bancorp by 1.4% in the second quarter. TIAA CREF Investment Management LLC now owns 101,339 shares of the financial services provider’s stock valued at $3,634,000 after acquiring an additional 1,407 shares in the last quarter. BlackRock Inc. grew its holdings in S&T Bancorp by 48,472.8% during the first quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock valued at $149,072,000 after purchasing an additional 4,299,536 shares during the period. Aperio Group LLC lifted its position in shares of S&T Bancorp by 59.7% during the second quarter. Aperio Group LLC now owns 18,646 shares of the financial services provider’s stock worth $669,000 after acquiring an additional 6,971 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of S&T Bancorp by 186.6% during the second quarter. Russell Investments Group Ltd. now owns 30,433 shares of the financial services provider’s stock worth $1,092,000 after acquiring an additional 19,816 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in shares of S&T Bancorp by 1.0% during the second quarter. Texas Permanent School Fund now owns 25,540 shares of the financial services provider’s stock worth $916,000 after acquiring an additional 263 shares in the last quarter. 54.26% of the stock is owned by hedge funds and other institutional investors.

In other news, insider David P. Ruddock sold 4,414 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $35.00, for a total transaction of $154,490.00. Following the transaction, the insider now directly owns 10,004 shares in the company, valued at $350,140. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Krieger sold 1,201 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $41.78, for a total transaction of $50,177.78. Following the sale, the director now directly owns 18,045 shares of the company’s stock, valued at approximately $753,920.10. The disclosure for this sale can be found here. Insiders sold a total of 7,715 shares of company stock worth $283,902 over the last 90 days. Insiders own 2.71% of the company’s stock.

S&T Bancorp, Inc. (NASDAQ STBA) opened at $39.12 on Tuesday. The firm has a market cap of $1,350.55, a price-to-earnings ratio of 16.57 and a beta of 0.87. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a 1-year low of $31.72 and a 1-year high of $42.36.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. The business had revenue of $71.01 million for the quarter, compared to analysts’ expectations of $73.70 million. S&T Bancorp had a net margin of 26.44% and a return on equity of 9.41%. During the same quarter in the previous year, the company earned $0.59 EPS. analysts expect that S&T Bancorp, Inc. will post 2.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.25%. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, November 1st. S&T Bancorp’s dividend payout ratio is presently 37.77%.

STBA has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.50 price target on shares of S&T Bancorp in a research report on Thursday, August 3rd. BidaskClub raised S&T Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research raised S&T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, October 24th. Piper Jaffray Companies restated a “hold” rating and issued a $36.50 price objective on shares of S&T Bancorp in a report on Thursday, October 19th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of S&T Bancorp in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. S&T Bancorp presently has an average rating of “Hold” and a consensus price target of $41.33.

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S&T Bancorp Company Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.

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Institutional Ownership by Quarter for S&T Bancorp (NASDAQ:STBA)

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