S&T Bancorp (NASDAQ:STBA) Shares Down 3.9% - Here's What Happened

S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) fell 3.9% on Friday . The company traded as low as $39.68 and last traded at $39.72. 65,343 shares were traded during mid-day trading, a decline of 60% from the average session volume of 161,789 shares. The stock had previously closed at $41.33.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on STBA shares. StockNews.com lowered S&T Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday. DA Davidson upped their target price on S&T Bancorp from $32.00 to $41.00 and gave the company a "neutral" rating in a research report on Friday, July 19th.

S&T Bancorp Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.20 and a beta of 0.79. The company has a 50-day moving average of $41.34 and a 200-day moving average of $36.31.

S&T Bancorp (NASDAQ:STBA - Get Free Report) 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 business had revenue of $142.07 million for the quarter, compared to analyst estimates of $95.85 million. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. During the same period in the prior year, the company posted $0.89 EPS. On average, equities research analysts forecast that S&T Bancorp, Inc. will post 3.3 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp's dividend payout ratio is currently 37.39%.

Institutional Investors Weigh In On S&T Bancorp

Several large investors have recently added to or reduced their stakes in STBA. Earnest Partners LLC increased its position in S&T Bancorp by 569.7% in the first quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider's stock worth $7,704,000 after buying an additional 204,281 shares during the period. American Century Companies Inc. increased its position in S&T Bancorp by 29.0% in the second quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider's stock worth $19,761,000 after buying an additional 133,108 shares during the period. SpiderRock Advisors LLC acquired a new stake in S&T Bancorp in the first quarter worth $2,234,000. Vanguard Group Inc. increased its position in S&T Bancorp by 1.1% in the fourth 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 period. Finally, Dimensional Fund Advisors LP grew its stake in shares of S&T Bancorp by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider's stock worth $80,064,000 after purchasing an additional 32,935 shares in the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.

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.