JPMorgan Chase & Co. Trims Holdings in S & T Bancorp Inc (STBA)

JPMorgan Chase & Co. lessened its holdings in S & T Bancorp Inc (NASDAQ:STBA) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,566 shares of the financial services provider’s stock after selling 12,126 shares during the period. JPMorgan Chase & Co. owned 0.19% of S & T Bancorp worth $2,626,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in STBA. Russell Investments Group Ltd. lifted its stake in shares of S & T Bancorp by 186.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 30,433 shares of the financial services provider’s stock valued at $1,092,000 after purchasing an additional 19,816 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in S & T Bancorp by 12.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 155,714 shares of the financial services provider’s stock worth $5,584,000 after acquiring an additional 17,458 shares during the period. Legal & General Group Plc raised its holdings in S & T Bancorp by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 68,365 shares of the financial services provider’s stock worth $2,452,000 after acquiring an additional 5,676 shares during the period. BNP Paribas Arbitrage SA raised its holdings in S & T Bancorp by 60.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,932 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 4,510 shares during the period. Finally, KBC Group NV bought a new position in S & T Bancorp in the 2nd quarter worth $161,000. 55.18% of the stock is owned by institutional investors and hedge funds.

S & T Bancorp Inc (STBA) opened at $41.86 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07. S & T Bancorp Inc has a twelve month low of $31.72 and a twelve month high of $43.17. The stock has a market cap of $1,455.83, a PE ratio of 17.97 and a beta of 0.86.

S & T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.05. S & T Bancorp had a return on equity of 9.41% and a net margin of 26.44%. The company had revenue of $71.01 million for the quarter, compared to analysts’ expectations of $73.70 million. During the same period in the previous year, the firm earned $0.59 EPS. equities research analysts forecast that S & T Bancorp Inc will post 2.37 earnings per share for the current year.

In related news, Director David Krieger sold 1,201 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $41.78, for a total value of $50,177.78. Following the transaction, the director now directly owns 18,045 shares of the company’s stock, valued at approximately $753,920.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James C. Miller sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $39.56, for a total value of $197,800.00. Following the completion of the transaction, the director now directly owns 44,176 shares in the company, valued at $1,747,602.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,051 shares of company stock worth $485,000. 2.71% of the stock is owned by insiders.

Several brokerages recently commented on STBA. BidaskClub upgraded shares of S & T Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Piper Jaffray Companies reiterated a “hold” rating and issued a $42.00 target price on shares of S & T Bancorp in a report on Tuesday. Zacks Investment Research upgraded shares of S & T Bancorp from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a report on Saturday, December 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $41.50 target price on shares of S & T Bancorp in a report on Friday, October 20th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of S & T Bancorp in a report on Friday, October 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $43.50.

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S & T Bancorp Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.

Institutional Ownership by Quarter for S & T Bancorp (NASDAQ:STBA)

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