Hsbc Holdings PLC Reduces Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

Hsbc Holdings PLC lowered its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 71.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,717 shares of the financial services provider's stock after selling 24,451 shares during the period. Hsbc Holdings PLC's holdings in S&T Bancorp were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in S&T Bancorp by 1.1% during 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 last quarter. Dimensional Fund Advisors LP lifted its stake in shares of S&T Bancorp by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider's stock valued at $80,064,000 after purchasing an additional 32,935 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of S&T Bancorp by 29.0% in the 2nd quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider's stock valued at $19,761,000 after purchasing an additional 133,108 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of S&T Bancorp by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider's stock valued at $15,638,000 after purchasing an additional 4,126 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of S&T Bancorp in the 4th quarter valued at $9,055,000. Institutional investors and hedge funds own 65.22% of the company's stock.

S&T Bancorp Trading Down 0.9 %

STBA traded down $0.36 during mid-day trading on Thursday, hitting $39.30. 192,322 shares of the stock were exchanged, compared to its average volume of 163,239. The firm's fifty day moving average is $41.83 and its two-hundred day moving average is $35.64. S&T Bancorp, Inc. has a 1-year low of $24.51 and a 1-year high of $45.79. 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 company has a market cap of $1.50 billion, a PE ratio of 11.10 and a beta of 0.79.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.14. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. The firm had revenue of $142.07 million for the quarter, compared to analyst estimates of $95.85 million. During the same quarter in the prior year, the company earned $0.89 EPS. Equities analysts forecast that S&T Bancorp, Inc. will post 3.31 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.32 annualized dividend and a yield of 3.36%. S&T Bancorp's dividend payout ratio (DPR) is 37.39%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com raised S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, September 25th. DA Davidson upped their price target on S&T Bancorp from $32.00 to $41.00 and gave the company a "neutral" rating in a research note on Friday, July 19th.

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.