S&T Bancorp, Inc. (STBA) Stake Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 50.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,758 shares of the financial services provider’s stock after selling 23,458 shares during the quarter. PNC Financial Services Group Inc. owned about 0.07% of S&T Bancorp worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of S&T Bancorp by 48,472.8% in the 1st quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock valued at $149,072,000 after purchasing an additional 4,299,536 shares during the period. Vanguard Group Inc. lifted its stake in shares of S&T Bancorp by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 3,189,834 shares of the financial services provider’s stock valued at $110,368,000 after purchasing an additional 103,048 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of S&T Bancorp by 5.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,603,236 shares of the financial services provider’s stock valued at $55,472,000 after purchasing an additional 80,619 shares during the period. State Street Corp lifted its stake in shares of S&T Bancorp by 6.0% in the 1st quarter. State Street Corp now owns 817,552 shares of the financial services provider’s stock valued at $28,292,000 after purchasing an additional 45,958 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of S&T Bancorp by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 490,094 shares of the financial services provider’s stock valued at $16,957,000 after purchasing an additional 28,370 shares during the period. 53.82% of the stock is currently owned by institutional investors.

In other S&T Bancorp news, insider David P. Ruddock sold 4,414 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $35.00, for a total value of $154,490.00. Following the completion of the sale, the insider now directly owns 10,004 shares in the company, valued at $350,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Kane acquired 1,000 shares of the stock in a transaction on Monday, August 21st. The stock was bought at an average price of $35.10 per share, with a total value of $35,100.00. Following the completion of the acquisition, the director now directly owns 1,997 shares of the company’s stock, valued at $70,094.70. The disclosure for this purchase can be found here. Insiders sold 6,739 shares of company stock valued at $239,098 over the last 90 days. 2.71% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on STBA shares. BidaskClub downgraded S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Zacks Investment Research raised S&T Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $38.50 price objective on shares of S&T Bancorp in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company has an average rating of “Hold” and an average price target of $37.67.

S&T Bancorp, Inc. (NASDAQ STBA) opened at 41.28 on Wednesday. S&T Bancorp, Inc. has a 52 week low of $25.85 and a 52 week high of $41.38. The firm has a market capitalization of $1.44 billion, a P/E ratio of 18.15 and a beta of 0.86. The stock has a 50 day moving average price of $37.59 and a 200-day moving average price of $36.01.

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

TRADEMARK VIOLATION NOTICE: “S&T Bancorp, Inc. (STBA) Stake Lessened by PNC Financial Services Group Inc.” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & internation

Several other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of S&T Bancorp by 48,472.8% in the 1st quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock valued at $149,072,000 after purchasing an additional 4,299,536 shares during the period. Vanguard Group Inc. lifted its stake in shares of S&T Bancorp by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 3,189,834 shares of the financial services provider’s stock valued at $110,368,000 after purchasing an additional 103,048 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of S&T Bancorp by 5.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,603,236 shares of the financial services provider’s stock valued at $55,472,000 after purchasing an additional 80,619 shares during the period. State Street Corp lifted its stake in shares of S&T Bancorp by 6.0% in the 1st quarter. State Street Corp now owns 817,552 shares of the financial services provider’s stock valued at $28,292,000 after purchasing an additional 45,958 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of S&T Bancorp by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 490,094 shares of the financial services provider’s stock valued at $16,957,000 after purchasing an additional 28,370 shares during the period. 53.82% of the stock is currently owned by institutional investors.

In other S&T Bancorp news, insider David P. Ruddock sold 4,414 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $35.00, for a total value of $154,490.00. Following the completion of the sale, the insider now directly owns 10,004 shares in the company, valued at $350,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Kane acquired 1,000 shares of the stock in a transaction on Monday, August 21st. The stock was bought at an average price of $35.10 per share, with a total value of $35,100.00. Following the completion of the acquisition, the director now directly owns 1,997 shares of the company’s stock, valued at $70,094.70. The disclosure for this purchase can be found here. Insiders sold 6,739 shares of company stock valued at $239,098 over the last 90 days. 2.71% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on STBA shares. BidaskClub downgraded S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Zacks Investment Research raised S&T Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $38.50 price objective on shares of S&T Bancorp in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company has an average rating of “Hold” and an average price target of $37.67.

S&T Bancorp, Inc. (NASDAQ STBA) opened at 41.28 on Wednesday. S&T Bancorp, Inc. has a 52 week low of $25.85 and a 52 week high of $41.38. The firm has a market capitalization of $1.44 billion, a P/E ratio of 18.15 and a beta of 0.86. The stock has a 50 day moving average price of $37.59 and a 200-day moving average price of $36.01.

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

TRADEMARK VIOLATION NOTICE: “S&T Bancorp, Inc. (STBA) Stake Lessened by PNC Financial Services Group Inc.” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://ledgergazette.com/2017/10/11/st-bancorp-inc-stba-stake-lessened-by-pnc-financial-services-group-inc.html.

S&T Bancorp Company 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.

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

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