Fifth Third Bancorp Decreases Stock Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Fifth Third Bancorp reduced its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 0.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 72,247 shares of the financial services provider’s stock after selling 343 shares during the period. Fifth Third Bancorp’s holdings in S&T Bancorp were worth $2,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of STBA. Sterling Capital Management LLC increased its position in S&T Bancorp by 824.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,088 shares during the last quarter. Smartleaf Asset Management LLC increased its position in S&T Bancorp by 67.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider’s stock worth $48,000 after buying an additional 502 shares during the last quarter. GAMMA Investing LLC increased its position in S&T Bancorp by 41.9% in the first quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider’s stock worth $65,000 after buying an additional 520 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in S&T Bancorp in the fourth quarter worth $153,000. Finally, Bailard Inc. purchased a new stake in S&T Bancorp in the fourth quarter worth $206,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Price Performance

Shares of NASDAQ STBA opened at $36.46 on Friday. The stock has a market cap of $1.40 billion, a PE ratio of 10.69 and a beta of 0.90. S&T Bancorp, Inc. has a fifty-two week low of $30.04 and a fifty-two week high of $45.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $36.51 and a 200-day moving average of $38.10.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The company had revenue of $93.75 million during the quarter, compared to analysts’ expectations of $96.40 million. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. Equities research analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, May 15th. S&T Bancorp’s dividend payout ratio (DPR) is presently 39.19%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen downgraded S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Keefe, Bruyette & Woods reduced their price target on S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating for the company in a research report on Monday, April 28th.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.