New York State Teachers Retirement System Sells 26,019 Shares of S&T Bancorp, Inc. $STBA

New York State Teachers Retirement System cut its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 44.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,163 shares of the financial services provider’s stock after selling 26,019 shares during the period. New York State Teachers Retirement System’s holdings in S&T Bancorp were worth $1,345,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of S&T Bancorp by 33.5% during the third quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock valued at $17,260,000 after buying an additional 115,333 shares during the last quarter. Jane Street Group LLC purchased a new position in S&T Bancorp during the first quarter valued at $4,211,000. Qube Research & Technologies Ltd grew its stake in S&T Bancorp by 58.0% during the third quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock valued at $8,820,000 after acquiring an additional 86,125 shares in the last quarter. Global Retirement Partners LLC bought a new stake in S&T Bancorp in the 4th quarter valued at $3,052,000. Finally, State Street Corp increased its holdings in S&T Bancorp by 3.7% in the 4th quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock valued at $67,815,000 after acquiring an additional 61,800 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on STBA shares. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Piper Sandler lifted their target price on S&T Bancorp from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.60.

S&T Bancorp Price Performance

Shares of STBA stock traded down $0.10 on Friday, reaching $48.75. The company’s stock had a trading volume of 255,644 shares, compared to its average volume of 263,924. The stock’s fifty day simple moving average is $46.33 and its 200-day simple moving average is $43.53. S&T Bancorp, Inc. has a 1 year low of $34.01 and a 1 year high of $50.40. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 13.66 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The company had revenue of $102.08 million for the quarter, compared to the consensus estimate of $103.62 million. Analysts forecast that S&T Bancorp, Inc. will post 3.75 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.48 annualized dividend and a dividend yield of 3.0%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. S&T Bancorp’s dividend payout ratio is currently 41.46%.

S&T Bancorp Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.