Charles Schwab Investment Management Inc. raised its position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,574,596 shares of the financial services provider's stock after buying an additional 81,469 shares during the quarter. Charles Schwab Investment Management Inc. owned 4.12% of S&T Bancorp worth $58,339,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its holdings in 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 buying an additional 1,088 shares in the last quarter. GAMMA Investing LLC grew its holdings in S&T Bancorp by 41.9% in the 1st 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 in the last quarter. Nisa Investment Advisors LLC grew its holdings in S&T Bancorp by 7.6% in the 1st 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 in the last quarter. US Bancorp DE grew its holdings in S&T Bancorp by 1,015.1% in the 1st 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 in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in S&T Bancorp in the 4th quarter valued at $230,000. 65.22% of the stock is owned by institutional investors and hedge funds.
S&T Bancorp Price Performance
NASDAQ:STBA traded down $0.02 during trading hours on Tuesday, hitting $37.44. The company's stock had a trading volume of 41,082 shares, compared to its average volume of 156,771. The stock has a fifty day simple moving average of $37.78 and a 200-day simple moving average of $37.58. The company has a market capitalization of $1.44 billion, a P/E ratio of 10.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $45.46.
S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The business had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. On average, analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.
S&T Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a $0.34 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.36 annualized dividend and a yield of 3.6%. S&T Bancorp's dividend payout ratio (DPR) is currently 39.88%.
Analyst Ratings Changes
STBA has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Hovde Group started coverage on 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. Wall Street Zen raised S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Piper Sandler started coverage on S&T Bancorp in a report on Friday, July 18th. They set a "neutral" rating and a $42.00 target price on the stock. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $42.00.
Read Our Latest Analysis on S&T Bancorp
About S&T Bancorp
(
Free Report)
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.
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