KLP Kapitalforvaltning AS Has $608,000 Stock Position in S&T Bancorp, Inc. (NASDAQ:STBA)

KLP Kapitalforvaltning AS increased its position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 100.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,400 shares of the financial services provider's stock after acquiring an additional 8,200 shares during the period. KLP Kapitalforvaltning AS's holdings in S&T Bancorp were worth $608,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of STBA. Vanguard Group Inc. increased its stake in S&T Bancorp by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider's stock valued at $176,453,000 after buying an additional 160,453 shares during the period. Northern Trust Corp increased its stake in 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. Bridgeway Capital Management LLC increased its stake in S&T Bancorp by 2.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 286,455 shares of the financial services provider's stock valued at $10,948,000 after buying an additional 6,620 shares during the period. Principal Financial Group Inc. increased its stake in S&T Bancorp by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 206,985 shares of the financial services provider's stock valued at $7,669,000 after buying an additional 5,290 shares during the period. Finally, ProShare Advisors LLC increased its stake in S&T Bancorp by 8.0% during the 4th quarter. ProShare Advisors LLC now owns 190,774 shares of the financial services provider's stock valued at $7,291,000 after buying an additional 14,107 shares during the period. Institutional investors and hedge funds own 65.22% of the company's stock.

Wall Street Analyst Weigh In

STBA has been the topic of several research analyst reports. Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Keefe, Bruyette & Woods lowered their target price on shares of S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Hovde Group initiated coverage on shares of S&T Bancorp in a research note on Friday, June 27th. They set a "market perform" rating and a $41.00 target price on the stock. Finally, Piper Sandler initiated coverage on shares of S&T Bancorp in a research report on Friday, July 18th. They set a "neutral" rating and a $42.00 price objective for the company.

S&T Bancorp Price Performance

Shares of NASDAQ:STBA traded down $0.91 during trading hours on Friday, hitting $35.73. 178,696 shares of the company's stock traded hands, compared to its average volume of 125,670. S&T Bancorp, Inc. has a 52 week low of $30.84 and a 52 week high of $45.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The company's fifty day simple moving average is $37.73 and its two-hundred day simple moving average is $37.64. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 10.48 and a beta of 0.89.

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

S&T Bancorp Dividend Announcement

The company 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 dividend yield of 3.8%. The ex-dividend date is Thursday, August 14th. S&T Bancorp's dividend payout ratio (DPR) is presently 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.