Jacobs Levy Equity Management Inc. Purchases Shares of 67,552 S&T Bancorp, Inc. $STBA

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

A number of other institutional investors also recently modified their holdings of STBA. Nuveen LLC acquired a new stake in shares of S&T Bancorp during the 1st quarter valued at $13,151,000. Northern Trust Corp boosted its stake in shares of S&T Bancorp by 21.7% during the 4th quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider's stock valued at $18,476,000 after buying an additional 86,317 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of S&T Bancorp by 5.5% during 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 purchasing an additional 81,469 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of S&T Bancorp by 5,156.2% during the 1st quarter. GAMMA Investing LLC now owns 65,282 shares of the financial services provider's stock valued at $2,419,000 after purchasing an additional 64,040 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of S&T Bancorp by 519.3% during 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 purchasing an additional 34,546 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company's stock.

Analyst Ratings Changes

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

S&T Bancorp Price Performance

NASDAQ STBA traded down $0.08 on Monday, reaching $38.97. The company's stock had a trading volume of 5,036 shares, compared to its average volume of 152,448. The firm has a market cap of $1.49 billion, a PE ratio of 11.38 and a beta of 0.99. The business has a 50-day moving average price of $38.37 and a 200 day moving average price of $37.45. S&T Bancorp, Inc. has a 52 week low of $30.84 and a 52 week high of $45.46. 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 (NASDAQ:STBA - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.03. The business had revenue of $100.07 million for the quarter, compared to analysts' expectations of $99.30 million. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. Sell-side analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.34 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.36 dividend on an annualized basis and a yield of 3.5%. S&T Bancorp's payout ratio is 39.88%.

About S&T Bancorp

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.