S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in S&T Bancorp, Inc. (NASDAQ:STBA – Get Rating) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 48,488 shares of the financial services provider’s stock after selling 458 shares during the period. Thrivent Financial for Lutherans’ holdings in S&T Bancorp were worth $1,657,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in STBA. Allegheny Financial Group LTD acquired a new stake in shares of S&T Bancorp in the 4th quarter valued at approximately $209,000. Swiss National Bank lifted its holdings in shares of S&T Bancorp by 1.6% in the 4th quarter. Swiss National Bank now owns 94,500 shares of the financial services provider’s stock valued at $3,230,000 after buying an additional 1,500 shares during the period. Arizona State Retirement System lifted its holdings in shares of S&T Bancorp by 3.4% in the 4th quarter. Arizona State Retirement System now owns 11,046 shares of the financial services provider’s stock valued at $378,000 after buying an additional 363 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of S&T Bancorp by 34.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 51,451 shares of the financial services provider’s stock valued at $1,759,000 after buying an additional 13,233 shares during the period. Finally, Hancock Whitney Corp acquired a new stake in shares of S&T Bancorp in the fourth quarter valued at about $525,000. Institutional investors and hedge funds own 61.92% of the company’s stock.

Insider Activity

In other S&T Bancorp news, Director Jeffrey D. Grube purchased 2,000 shares of S&T Bancorp stock in a transaction on Friday, April 28th. The shares were purchased at an average cost of $27.59 per share, with a total value of $55,180.00. Following the completion of the transaction, the director now directly owns 37,175 shares in the company, valued at approximately $1,025,658.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

STBA has been the subject of several recent analyst reports. StockNews.com cut shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Keefe, Bruyette & Woods reduced their price objective on shares of S&T Bancorp from $38.00 to $34.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. Finally, Stephens lifted their price objective on S&T Bancorp from $32.00 to $37.00 in a report on Thursday, February 9th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.33.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $27.30 on Friday. S&T Bancorp, Inc. has a one year low of $24.93 and a one year high of $38.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $29.38 and a 200 day moving average price of $33.57. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 7.30 and a beta of 0.74.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.69%. S&T Bancorp’s dividend payout ratio (DPR) is 34.22%.

S&T Bancorp Profile

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S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services, which include accepting time and demand deposits and originating commercial and consumer loans, brokerage services, and trust services including serving as executor and trustee under wills and deeds and as guardian and custodian of employee benefits.