Trexquant Investment LP Purchases New Shares in S&T Bancorp, Inc. $STBA

Key Points

• Trexquant Investment LP acquired 21,402 shares of S&T Bancorp, valued at approximately $793,000, increasing its ownership to about 0.06% of the company.
• Institutional investors now hold 65.22% of S&T Bancorp's stock, with significant increases from several funds including a 1,015.1% raise in holdings by US Bancorp DE.
• The company reported a quarterly EPS of $0.83, exceeding analysts' expectations, and announced a dividend of $0.34 per share reflecting a yield of 3.4%.

Trexquant Investment LP acquired a new position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,402 shares of the financial services provider's stock, valued at approximately $793,000. Trexquant Investment LP owned approximately 0.06% of S&T Bancorp as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STBA. Nisa Investment Advisors LLC increased its holdings in S&T Bancorp by 7.6% during the first quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock worth $192,000 after buying an additional 367 shares during the last quarter. Confluence Wealth Services Inc. increased its holdings in S&T Bancorp by 1.5% during the first quarter. Confluence Wealth Services Inc. now owns 31,271 shares of the financial services provider's stock worth $1,132,000 after buying an additional 465 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in S&T Bancorp by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 20,761 shares of the financial services provider's stock worth $769,000 after buying an additional 479 shares during the last quarter. New York State Teachers Retirement System increased its holdings in S&T Bancorp by 0.8% during the first quarter. New York State Teachers Retirement System now owns 63,077 shares of the financial services provider's stock worth $2,337,000 after buying an additional 497 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in S&T Bancorp by 41.9% during the first quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock worth $65,000 after buying an additional 520 shares during the last quarter. Institutional investors own 65.22% of the company's stock.

S&T Bancorp Stock Performance

Shares of NASDAQ:STBA traded down $0.35 on Friday, hitting $39.05. The company had a trading volume of 72,856 shares, compared to its average volume of 116,661. S&T Bancorp, Inc. has a 1-year low of $30.84 and a 1-year high of $45.46. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 11.45 and a beta of 0.99. The stock has a 50 day moving average price of $38.37 and a 200 day moving average price of $37.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. The business had revenue of $100.07 million for the quarter, compared to the consensus estimate of $99.30 million. Analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.34 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.5%. S&T Bancorp's dividend payout ratio is 39.88%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STBA. Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Piper Sandler began coverage on shares of S&T Bancorp in a report on Friday, July 18th. They set a "neutral" rating and a $42.00 target price on the stock. Finally, Hovde Group began coverage on shares of S&T Bancorp in a report on Friday, June 27th. They set a "market perform" rating and a $41.00 target price on the stock. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $42.00.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.