Charles Schwab Investment Management Inc. Has $58.34 Million Stake in S&T Bancorp, Inc. $STBA

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in S&T Bancorp by 5.5% during the 1st quarter, now owning approximately 4.12% of the company worth $58.3 million.
• S&T Bancorp reported a quarterly EPS of $0.83, exceeding analysts' expectations, alongside a revenue of $100.07 million for the quarter.
• The company will pay a quarterly dividend of $0.34 per share on August 28th, providing an annualized yield of 3.7% with a payout ratio of 39.88%.

Charles Schwab Investment Management Inc. grew its stake in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,574,596 shares of the financial services provider's stock after purchasing an additional 81,469 shares during the period. Charles Schwab Investment Management Inc. owned about 4.12% of S&T Bancorp worth $58,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its stake in shares of S&T Bancorp by 824.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 1,088 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of S&T Bancorp by 41.9% in the first quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock valued at $65,000 after buying an additional 520 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of S&T Bancorp by 7.6% in the first quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock valued at $192,000 after buying an additional 367 shares during the period. US Bancorp DE increased its stake in shares of S&T Bancorp by 1,015.1% in the first quarter. US Bancorp DE now owns 5,754 shares of the financial services provider's stock valued at $213,000 after buying an additional 5,238 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in shares of S&T Bancorp in the fourth quarter valued at approximately $230,000. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STBA. Keefe, Bruyette & Woods lowered their price objective on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Piper Sandler began coverage on S&T Bancorp in a research note on Friday, July 18th. They issued a "neutral" rating and a $42.00 price objective for the company. Hovde Group began coverage on S&T Bancorp in a research note on Friday, June 27th. They issued a "market perform" rating and a $41.00 price objective for the company. Finally, Wall Street Zen raised S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, S&T Bancorp presently has an average rating of "Hold" and a consensus price target of $42.00.

S&T Bancorp Trading Up 0.4%

Shares of STBA stock traded up $0.16 during trading hours on Wednesday, hitting $37.46. 131,824 shares of the company were exchanged, compared to its average volume of 131,661. The firm has a market cap of $1.44 billion, a P/E ratio of 10.99 and a beta of 0.93. S&T Bancorp, Inc. has a fifty-two week low of $30.84 and a fifty-two week high of $45.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day simple moving average of $37.77 and a two-hundred day simple moving average of $37.58.

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

S&T Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.6%. S&T Bancorp's dividend payout ratio (DPR) is 39.88%.

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.