S&T Bancorp, Inc. (NASDAQ:STBA) Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 100.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,400 shares of the financial services provider's stock after buying an additional 8,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in S&T Bancorp were worth $608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in shares of S&T Bancorp by 824.2% during the fourth 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. GAMMA Investing LLC grew its holdings in S&T Bancorp by 41.9% in the first quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 520 shares during the period. 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. Dark Forest Capital Management LP purchased a new stake in shares of S&T Bancorp in the fourth quarter valued at approximately $230,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of S&T Bancorp during the 4th quarter worth $233,000. Institutional investors own 65.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Hovde Group assumed coverage on shares of S&T Bancorp in a research report on Friday, June 27th. They set a "market perform" rating and a $41.00 price target on the stock. Piper Sandler assumed coverage on shares of S&T Bancorp in a research note on Friday, July 18th. They issued a "neutral" rating and a $42.00 target price on the stock. Finally, Keefe, Bruyette & Woods reduced their price target 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.

S&T Bancorp Stock Down 2.0%

Shares of STBA stock traded down $0.76 on Wednesday, reaching $36.87. 104,469 shares of the company were exchanged, compared to its average volume of 124,060. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $37.75 and a 200-day moving average of $37.64. S&T Bancorp, Inc. has a one year low of $30.84 and a one year high of $45.70. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 10.81 and a beta of 0.89.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share (EPS) 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 firm had revenue of $100.07 million during the quarter, compared to analyst estimates of $99.30 million. Analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.69%. S&T Bancorp's payout ratio is currently 39.88%.

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.