Cambridge Investment Research Advisors Inc. Decreases Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Cambridge Investment Research Advisors Inc. reduced its position in S&T Bancorp, Inc. (NASDAQ:STBA – Get Rating) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,108 shares of the financial services provider’s stock after selling 2,633 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in S&T Bancorp were worth $790,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of S&T Bancorp by 41.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,745 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 801 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of S&T Bancorp in the second quarter worth about $90,000. Tower Research Capital LLC TRC raised its position in S&T Bancorp by 132.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,435 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 3,096 shares in the last quarter. Allegheny Financial Group LTD acquired a new position in S&T Bancorp in the fourth quarter valued at approximately $209,000. Finally, ProShare Advisors LLC purchased a new stake in S&T Bancorp in the 4th quarter worth approximately $211,000. 61.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STBA shares. Keefe, Bruyette & Woods decreased their target price 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. Stephens raised their target price on S&T Bancorp from $32.00 to $37.00 in a research report on Thursday, February 9th. Finally, StockNews.com downgraded S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.33.

S&T Bancorp Stock Performance

NASDAQ STBA opened at $27.30 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $29.38 and its 200-day simple moving average is $33.54. The company has a market cap of $1.06 billion, a PE ratio of 7.30 and a beta of 0.74. S&T Bancorp, Inc. has a 1-year low of $24.93 and a 1-year high of $38.43.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders 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 yield of 4.69%. S&T Bancorp’s payout ratio is currently 34.22%.

Insiders Place Their Bets

In other S&T Bancorp news, Director Jeffrey D. Grube bought 2,000 shares of S&T Bancorp stock in a transaction dated Friday, April 28th. The stock was acquired at an average cost of $27.59 per share, for a total transaction of $55,180.00. Following the completion of the transaction, the director now directly owns 37,175 shares of the company’s stock, valued at $1,025,658.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.32% of the stock is currently owned by corporate insiders.

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.