Denali Advisors LLC Invests $1.84 Million in S&T Bancorp, Inc. $STBA

Key Points

• Denali Advisors LLC has invested $1.84 million in S&T Bancorp, purchasing 48,723 shares, which constitutes about 0.13% of the company.
• A number of institutional investors have increased their stakes in S&T Bancorp, with 65.22% of the stock owned by such investors.
• S&T Bancorp reported earnings of $0.83 per share, exceeding the consensus estimate of $0.80, alongside a net margin of 23.39% for the last quarter.

Denali Advisors LLC purchased a new position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 48,723 shares of the financial services provider's stock, valued at approximately $1,843,000. Denali Advisors LLC owned about 0.13% of S&T Bancorp at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Hancock Whitney Corp boosted its stake in shares of S&T Bancorp by 2.1% in the first quarter. Hancock Whitney Corp now owns 15,813 shares of the financial services provider's stock worth $586,000 after acquiring an additional 326 shares during the last quarter. Nisa Investment Advisors LLC boosted 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 worth $192,000 after acquiring an additional 367 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake 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 boosted its stake 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. Finally, New York State Teachers Retirement System boosted its stake 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. 65.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on STBA shares. Hovde Group started coverage on 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. Weiss Ratings reissued a "hold (c+)" rating on shares of S&T Bancorp in a research note on Wednesday, October 8th. Piper Sandler initiated coverage on S&T Bancorp in a research note on Friday, July 18th. They set a "neutral" rating and a $42.00 price objective on the stock. Finally, Wall Street Zen raised S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $42.00.

S&T Bancorp Price Performance

STBA stock opened at $35.81 on Wednesday. The business's fifty day moving average price is $38.03 and its 200 day moving average price is $37.38. 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, Inc. has a 12-month low of $30.84 and a 12-month high of $45.46. The company has a market capitalization of $1.37 billion, a PE ratio of 10.50 and a beta of 0.94.

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

S&T Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.34 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. S&T Bancorp's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.