Thrivent Financial for Lutherans Lowers Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

Thrivent Financial for Lutherans lowered its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 59.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,741 shares of the financial services provider's stock after selling 46,207 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of S&T Bancorp worth $1,060,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in STBA. Hsbc Holdings PLC purchased a new position in S&T Bancorp during the fourth quarter valued at approximately $1,699,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of S&T Bancorp during the fourth quarter valued at approximately $562,000. Novak & Powell Financial Services Inc. bought a new stake in shares of S&T Bancorp during the fourth quarter valued at approximately $462,000. Vanguard Group Inc. raised its position in shares of 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 valued at $154,291,000 after buying an additional 52,075 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of S&T Bancorp during the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

S&T Bancorp Price Performance

STBA traded up $0.38 during trading hours on Friday, hitting $39.68. The company's stock had a trading volume of 128,705 shares, compared to its average volume of 167,697. The business's 50-day moving average price is $41.60 and its 200-day moving average price is $35.80. S&T Bancorp, Inc. has a 12 month low of $24.51 and a 12 month high of $45.79. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 11.24 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07.

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

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.33%. The ex-dividend date was Thursday, August 8th. S&T Bancorp's payout ratio is 37.39%.

Wall Street Analysts Forecast Growth

STBA has been the topic of several recent analyst reports. DA Davidson lifted their price objective on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a "neutral" rating in a research report on Friday, July 19th. StockNews.com cut shares of S&T Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday.

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.