67,552 Shares in S&T Bancorp, Inc. $STBA Acquired by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new position in S&T Bancorp, purchasing 67,552 shares valued at approximately $2.5 million, bringing its ownership to 0.18% of the company.
• Analysts have set a consensus rating of "Hold" for S&T Bancorp with an average price target of $42.00, indicating cautious optimism about the stock's future performance.
• S&T Bancorp recently declared a quarterly dividend of $0.34 per share, representing a 3.5% yield, with a dividend payout ratio of 39.88%.

Jacobs Levy Equity Management Inc. purchased a new stake in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 67,552 shares of the financial services provider's stock, valued at approximately $2,503,000. Jacobs Levy Equity Management Inc. owned approximately 0.18% of S&T Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STBA. Nuveen LLC purchased a new position in S&T Bancorp in the 1st quarter valued at about $13,151,000. Northern Trust Corp raised its holdings in S&T Bancorp by 21.7% in the 4th quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider's stock valued at $18,476,000 after acquiring an additional 86,317 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in S&T Bancorp by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,574,596 shares of the financial services provider's stock valued at $58,339,000 after acquiring an additional 81,469 shares during the last quarter. GAMMA Investing LLC raised its holdings in S&T Bancorp by 5,156.2% in the 1st quarter. GAMMA Investing LLC now owns 65,282 shares of the financial services provider's stock valued at $2,419,000 after acquiring an additional 64,040 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in S&T Bancorp by 519.3% in the 1st quarter. GSA Capital Partners LLP now owns 41,199 shares of the financial services provider's stock valued at $1,526,000 after acquiring an additional 34,546 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Trading Down 0.9%

Shares of NASDAQ STBA traded down $0.35 during midday trading on Friday, reaching $39.05. 72,856 shares of the stock were exchanged, compared to its average volume of 116,661. The company has a 50 day simple moving average of $38.37 and a 200 day simple moving average of $37.47. The stock has a market capitalization of $1.50 billion, a P/E ratio of 11.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current 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 announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.03. The business 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%. As a group, equities analysts expect that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.5%. S&T Bancorp's dividend payout ratio (DPR) is presently 39.88%.

Analyst Upgrades and Downgrades

A number of research firms have commented on STBA. Hovde Group began coverage on shares of S&T Bancorp in a report on Friday, June 27th. They issued a "market perform" rating and a $41.00 price objective for the company. Piper Sandler began coverage on shares of S&T Bancorp in a report on Friday, July 18th. They issued a "neutral" rating and a $42.00 price objective for the company. Finally, Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $42.00.

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.