Trexquant Investment LP Invests $793,000 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 shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 21,402 shares of the financial services provider's stock, valued at approximately $793,000. Trexquant Investment LP owned about 0.06% of S&T Bancorp at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in shares of S&T Bancorp by 6.3% during the fourth quarter. Stifel Financial Corp now owns 14,509 shares of the financial services provider's stock worth $555,000 after purchasing an additional 863 shares during the last quarter. Northern Trust Corp raised its holdings in shares of S&T Bancorp by 21.7% in the fourth quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider's stock worth $18,476,000 after acquiring an additional 86,317 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of S&T Bancorp by 25.5% in the fourth quarter. Citadel Advisors LLC now owns 23,700 shares of the financial services provider's stock worth $906,000 after acquiring an additional 4,809 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of S&T Bancorp by 52.7% in the fourth quarter. Deutsche Bank AG now owns 34,118 shares of the financial services provider's stock worth $1,304,000 after acquiring an additional 11,776 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of S&T Bancorp during the fourth quarter valued at approximately $472,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Price Performance

NASDAQ:STBA traded down $0.52 during mid-day trading on Tuesday, reaching $38.86. 84,345 shares of the company were exchanged, compared to its average volume of 122,619. S&T Bancorp, Inc. has a 12 month low of $30.84 and a 12 month high of $45.46. The company has a fifty day moving average of $38.40 and a 200 day moving average of $37.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.49 billion, a PE ratio of 11.40 and a beta of 0.99.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $100.07 million for the quarter, compared to the consensus estimate of $99.30 million. On average, research analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend 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 currently 39.88%.

Analysts Set New Price Targets

STBA has been the subject of several recent research reports. Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Hovde Group started coverage on shares of S&T Bancorp in a research note on Friday, June 27th. They set a "market perform" rating and a $41.00 price objective on the stock. Finally, Piper Sandler began coverage on S&T Bancorp in a report on Friday, July 18th. They issued a "neutral" rating and a $42.00 price objective for the company. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.00.

About S&T Bancorp

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.