GAMMA Investing LLC Buys 64,040 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

GAMMA Investing LLC increased its position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 5,156.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 65,282 shares of the financial services provider's stock after purchasing an additional 64,040 shares during the period. GAMMA Investing LLC owned about 0.17% of S&T Bancorp worth $2,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of STBA. Sterling Capital Management LLC increased its stake in shares of S&T Bancorp by 824.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock worth $47,000 after purchasing an additional 1,088 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of S&T Bancorp by 67.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider's stock worth $48,000 after acquiring an additional 502 shares during the period. CoreFirst Bank & Trust acquired a new position in S&T Bancorp during the fourth quarter worth $153,000. Bailard Inc. acquired a new position in S&T Bancorp in the fourth quarter valued at about $206,000. Finally, Dark Forest Capital Management LP bought a new stake in S&T Bancorp during the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 65.22% of the company's stock.

S&T Bancorp Price Performance

Shares of NASDAQ:STBA traded down $0.83 during trading on Friday, hitting $36.46. 172,209 shares of the company were exchanged, compared to its average volume of 165,893. The business's 50 day moving average is $36.46 and its 200-day moving average is $38.15. S&T Bancorp, Inc. has a 1-year low of $29.85 and a 1-year high of $45.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.40 billion, a P/E ratio of 10.69 and a beta of 0.90.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. The business had revenue of $93.75 million for the quarter, compared to analyst estimates of $96.40 million. Equities analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.73%. S&T Bancorp's dividend payout ratio (DPR) is currently 39.19%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. 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 report on Monday, April 28th. Wall Street Zen cut S&T Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.

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.