Schwab Charles Investment Management Inc. boosted its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 5.3% during the first quarter, Holdings Channel reports. The institutional investor owned 138,256 shares of the financial services provider’s stock after buying an additional 6,993 shares during the period. Schwab Charles Investment Management Inc.’s holdings in S&T Bancorp were worth $4,784,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of S&T Bancorp by 48,472.8% in the first quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock worth $149,072,000 after buying an additional 4,299,536 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of S&T Bancorp by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,603,236 shares of the financial services provider’s stock worth $55,472,000 after buying an additional 80,619 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of S&T Bancorp by 5.1% in the first quarter. Geode Capital Management LLC now owns 306,459 shares of the financial services provider’s stock worth $10,603,000 after buying an additional 14,758 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of S&T Bancorp by 3.3% in the first quarter. Vanguard Group Inc. now owns 3,189,834 shares of the financial services provider’s stock worth $110,368,000 after buying an additional 103,048 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of S&T Bancorp by 4.7% in the first quarter. Thrivent Financial For Lutherans now owns 19,710 shares of the financial services provider’s stock worth $682,000 after buying an additional 880 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

S&T Bancorp, Inc. (NASDAQ STBA) traded down 1.01% during mid-day trading on Friday, reaching $35.37. The company had a trading volume of 70,700 shares. S&T Bancorp, Inc. has a one year low of $25.85 and a one year high of $39.84. The firm’s 50-day moving average is $36.67 and its 200-day moving average is $35.73. The firm has a market capitalization of $1.24 billion, a P/E ratio of 15.55 and a beta of 0.84.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.09. S&T Bancorp had a return on equity of 9.30% and a net margin of 26.52%. The firm had revenue of $72.84 million for the quarter, compared to analyst estimates of $71.98 million. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, equities research analysts anticipate that S&T Bancorp, Inc. will post $2.30 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.26%. The ex-dividend date is Tuesday, August 1st. S&T Bancorp’s dividend payout ratio (DPR) is presently 35.24%.

COPYRIGHT VIOLATION WARNING: “Schwab Charles Investment Management Inc. Has $4.78 Million Position in S&T Bancorp, Inc. (NASDAQ:STBA)” was reported by Daily Political and is the property of of Daily Political. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/08/12/schwab-charles-investment-management-inc-has-4-78-million-position-in-st-bancorp-inc-nasdaqstba.html.

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.50 price target on shares of S&T Bancorp in a research report on Thursday, August 3rd. BidaskClub downgraded shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research downgraded shares of S&T Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $37.83.

In other S&T Bancorp news, Director Frank W. Jones sold 1,075 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $37.67, for a total value of $40,495.25. Following the transaction, the director now directly owns 25,065 shares of the company’s stock, valued at $944,198.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.31% of the stock is currently owned by insiders.

About S&T Bancorp

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.

Want to see what other hedge funds are holding STBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&T Bancorp, Inc. (NASDAQ:STBA).

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

Receive News & Ratings for S&T Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&T Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.