Voya Investment Management LLC reduced its position in shares of S & T Bancorp Inc (NASDAQ:STBA) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,681 shares of the financial services provider’s stock after selling 1,475 shares during the period. Voya Investment Management LLC’s holdings in S & T Bancorp were worth $678,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of STBA. Itau Unibanco Holding S.A. bought a new stake in shares of S & T Bancorp during the 2nd quarter worth $117,000. SG Americas Securities LLC bought a new stake in S & T Bancorp in the 1st quarter valued at $142,000. OppenheimerFunds Inc. bought a new stake in S & T Bancorp in the 2nd quarter valued at $205,000. Hapanowicz & Associates Financial Services Inc bought a new stake in S & T Bancorp in the 2nd quarter valued at $206,000. Finally, Amalgamated Bank bought a new stake in S & T Bancorp in the 2nd quarter valued at $217,000. 60.40% of the stock is owned by institutional investors and hedge funds.
In other news, Director James C. Miller sold 5,000 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $46.44, for a total value of $232,200.00. Following the completion of the transaction, the director now owns 39,948 shares in the company, valued at approximately $1,855,185.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christina Anne Cassotis acquired 1,457 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was acquired at an average price of $46.49 per share, with a total value of $67,735.93. Following the purchase, the director now owns 1,636 shares in the company, valued at approximately $76,057.64. The disclosure for this purchase can be found here. 2.53% of the stock is owned by corporate insiders.
A number of analysts have weighed in on the stock. BidaskClub raised shares of S & T Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday. Zacks Investment Research downgraded shares of S & T Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, DA Davidson assumed coverage on shares of S & T Bancorp in a report on Thursday, August 23rd. They issued a “buy” rating and a $54.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. S & T Bancorp has a consensus rating of “Hold” and a consensus target price of $47.13.
Shares of S & T Bancorp stock opened at $39.37 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. S & T Bancorp Inc has a fifty-two week low of $37.79 and a fifty-two week high of $47.77. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 15.94 and a beta of 0.61.
S & T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. S & T Bancorp had a net margin of 24.39% and a return on equity of 10.41%. The firm had revenue of $70.65 million during the quarter, compared to the consensus estimate of $70.06 million. On average, equities research analysts expect that S & T Bancorp Inc will post 2.88 earnings per share for the current fiscal year.
S & T Bancorp Profile
S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.
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