ProShare Advisors LLC Trims Stock Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

ProShare Advisors LLC reduced its position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,543 shares of the financial services provider's stock after selling 38,674 shares during the quarter. ProShare Advisors LLC owned approximately 0.55% of S&T Bancorp worth $7,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of STBA. TFO Wealth Partners LLC raised its stake in shares of S&T Bancorp by 5,870.6% in the fourth quarter. TFO Wealth Partners LLC now owns 1,015 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 998 shares in the last quarter. Innealta Capital LLC acquired a new stake in S&T Bancorp in the 2nd quarter valued at about $53,000. EntryPoint Capital LLC raised its position in S&T Bancorp by 188.0% in the 1st quarter. EntryPoint Capital LLC now owns 2,854 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 1,863 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of S&T Bancorp in the 1st quarter valued at about $152,000. Finally, Denali Advisors LLC acquired a new position in shares of S&T Bancorp during the second quarter worth about $200,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Stock Down 1.1 %

Shares of NASDAQ STBA traded down $0.47 during midday trading on Wednesday, hitting $41.52. 134,952 shares of the company's stock were exchanged, compared to its average volume of 163,334. The firm's fifty day simple moving average is $41.91 and its 200-day simple moving average is $35.28. The company has a market cap of $1.59 billion, a PE ratio of 11.76 and a beta of 0.79. S&T Bancorp, Inc. has a twelve month low of $24.51 and a twelve month high of $45.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.14. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. The company had revenue of $142.07 million for the quarter, compared to analysts' expectations of $95.85 million. During the same quarter last year, the company earned $0.89 earnings per share. Research analysts predict that S&T Bancorp, Inc. will post 3.31 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Thursday, August 8th. S&T Bancorp's payout ratio is 37.39%.

Analyst Ratings Changes

STBA has been the subject of a number of recent research reports. DA Davidson lifted their price target on shares of S&T Bancorp from $32.00 to $41.00 and gave the stock a "neutral" rating in a research note on Friday, July 19th. StockNews.com downgraded shares of S&T Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, September 4th.

S&T Bancorp Company Profile

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.