Bailard Inc. Buys 10,700 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Bailard Inc. increased its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 198.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,102 shares of the financial services provider's stock after acquiring an additional 10,700 shares during the quarter. Bailard Inc.'s holdings in S&T Bancorp were worth $597,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of S&T Bancorp by 86.3% during the 4th quarter. Victory Capital Management Inc. now owns 19,985 shares of the financial services provider's stock worth $764,000 after purchasing an additional 9,260 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in S&T Bancorp during the fourth quarter worth $474,000. Swiss National Bank raised its position in S&T Bancorp by 0.8% during the fourth quarter. Swiss National Bank now owns 75,200 shares of the financial services provider's stock worth $2,874,000 after acquiring an additional 600 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in S&T Bancorp during the fourth quarter worth $313,000. Finally, Vanguard Group Inc. raised its position in S&T Bancorp by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider's stock worth $176,453,000 after acquiring an additional 160,453 shares in the last quarter. Institutional investors own 65.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on STBA shares. Keefe, Bruyette & Woods dropped their price target on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Hovde Group initiated coverage on shares of S&T Bancorp in a research report on Friday, June 27th. They issued a "market perform" rating and a $41.00 price objective on the stock. Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Piper Sandler began coverage on shares of S&T Bancorp in a research note on Friday, July 18th. They issued a "neutral" rating and a $42.00 price target on the stock.

S&T Bancorp Trading Down 0.3%

NASDAQ:STBA traded down $0.10 during trading hours on Wednesday, hitting $38.62. 110,987 shares of the company were exchanged, compared to its average volume of 162,088. The company has a fifty day simple moving average of $37.80 and a 200 day simple moving average of $37.61. S&T Bancorp, Inc. has a one year low of $30.84 and a one year high of $45.79. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.13 and a beta of 0.89. 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 posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.71% and a net margin of 23.84%. The firm had revenue of $93.75 million for the quarter, compared to analysts' expectations of $96.40 million. Sell-side analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.36 annualized dividend and a dividend yield of 3.52%. S&T Bancorp's payout ratio is 39.19%.

S&T Bancorp 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.