Credit Suisse AG cut its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,703 shares of the financial services provider’s stock after selling 8,088 shares during the period. Credit Suisse AG owned 0.14% of S&T Bancorp worth $1,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STBA. BlackRock Inc. raised its position in shares of S&T Bancorp by 48,472.8% in the first quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock worth $149,072,000 after buying an additional 4,299,536 shares during the last quarter. Vanguard Group Inc. raised its position in shares of S&T Bancorp by 3.3% in the first quarter. Vanguard Group Inc. now owns 3,189,834 shares of the financial services provider’s stock worth $110,368,000 after buying an additional 103,048 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of S&T Bancorp by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,603,236 shares of the financial services provider’s stock worth $55,472,000 after buying an additional 80,619 shares during the last quarter. State Street Corp raised its position in shares of S&T Bancorp by 6.0% in the first quarter. State Street Corp now owns 817,552 shares of the financial services provider’s stock worth $28,292,000 after buying an additional 45,958 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of S&T Bancorp by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 490,094 shares of the financial services provider’s stock worth $16,957,000 after buying an additional 28,370 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) traded down 1.01% on Friday, reaching $35.37. The company’s stock had a trading volume of 70,700 shares. The company has a 50 day moving average of $36.67 and a 200 day moving average of $35.73. The stock has a market capitalization of $1.24 billion, a P/E ratio of 15.55 and a beta of 0.84. S&T Bancorp, Inc. has a 1-year low of $25.85 and a 1-year high of $39.84.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.09. S&T Bancorp had a return on equity of 9.30% and a net margin of 26.52%. The business had revenue of $72.84 million for the quarter, compared to the consensus estimate of $71.98 million. During the same period in the prior year, the business earned $0.49 earnings per share. Equities research analysts expect that S&T Bancorp, Inc. will post $2.30 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.80 annualized dividend and a dividend yield of 2.26%. S&T Bancorp’s dividend payout ratio is currently 35.24%.

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STBA has been the topic of a number of research reports. BidaskClub upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research lowered S&T Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.50 price objective on shares of S&T Bancorp in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. S&T Bancorp presently has a consensus rating of “Hold” and an average target price of $37.83.

In other news, Director Frank W. Jones sold 1,075 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $37.67, for a total value of $40,495.25. Following the sale, the director now directly owns 25,065 shares in the company, valued at $944,198.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.31% of the stock is owned by corporate insiders.

About S&T Bancorp

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.

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

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