S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. decreased its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 11.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,374 shares of the financial services provider’s stock after selling 447 shares during the quarter. Legend Financial Advisors Inc.’s holdings in S&T Bancorp were worth $142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in S&T Bancorp by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock worth $154,291,000 after buying an additional 52,075 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in S&T Bancorp in the first quarter valued at approximately $225,000. Principal Financial Group Inc. increased its position in S&T Bancorp by 1.7% during the first quarter. Principal Financial Group Inc. now owns 214,016 shares of the financial services provider’s stock worth $6,866,000 after purchasing an additional 3,600 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in S&T Bancorp during the first quarter worth approximately $2,234,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in S&T Bancorp by 33.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,683 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 7,712 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

STBA has been the topic of a number of research 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 S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday.

S&T Bancorp Stock Performance

NASDAQ:STBA opened at $39.55 on Friday. S&T Bancorp, Inc. has a 1-year low of $24.51 and a 1-year high of $45.79. The stock has a market cap of $1.51 billion, a P/E ratio of 11.20 and a beta of 0.79. 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 firm has a 50-day moving average of $41.34 and a two-hundred day moving average of $36.36.

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 (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.14. The firm had revenue of $142.07 million for the quarter, compared to analysts’ expectations of $95.85 million. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. During the same period in the prior year, the company posted $0.89 earnings per share. On average, research analysts expect that S&T Bancorp, Inc. will post 3.3 earnings per share for the current fiscal 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 given a $0.33 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.34%. S&T Bancorp’s payout ratio is 37.39%.

About S&T Bancorp

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.