Nuveen LLC Purchases Shares of 354,947 S&T Bancorp, Inc. $STBA

Key Points

• Nuveen LLC has acquired a new position in S&T Bancorp, Inc., purchasing 354,947 shares valued at approximately $13.15 million, making it a 0.93% owner of the company.
• S&T Bancorp announced a quarterly dividend of $0.34 per share, resulting in an annualized yield of 3.6%, with a payout ratio of 39.88%.
• In terms of stock performance, S&T Bancorp's shares opened at $37.31, with a one-year price range between $30.84 and $45.46.

Nuveen LLC acquired a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 354,947 shares of the financial services provider's stock, valued at approximately $13,151,000. Nuveen LLC owned about 0.93% of S&T Bancorp as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in STBA. Sterling Capital Management LLC grew its holdings in 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 acquiring an additional 1,088 shares during the last quarter. GAMMA Investing LLC grew its holdings in S&T Bancorp by 41.9% during the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock worth $65,000 after acquiring an additional 520 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in S&T Bancorp by 7.6% during the 1st 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. US Bancorp DE grew its holdings in S&T Bancorp by 1,015.1% during the 1st quarter. US Bancorp DE now owns 5,754 shares of the financial services provider's stock worth $213,000 after acquiring an additional 5,238 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in S&T Bancorp during the 4th quarter worth about $230,000. Institutional investors own 65.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Hovde Group assumed 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 objective on the stock. Finally, Piper Sandler began coverage on shares of S&T Bancorp in a report on Friday, July 18th. They set a "neutral" rating and a $42.00 price objective on the stock. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $42.00.

S&T Bancorp Trading Up 1.1%

S&T Bancorp stock traded up $0.44 during midday trading on Wednesday, hitting $39.93. 159,299 shares of the stock were exchanged, compared to its average volume of 131,964. The company has a fifty day simple moving average of $38.04 and a two-hundred day simple moving average of $37.53. S&T Bancorp, Inc. has a 52 week low of $30.84 and a 52 week high of $45.46. The stock has a market capitalization of $1.53 billion, a PE ratio of 11.71 and a beta of 0.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, topping 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 business had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.36 annualized dividend and a yield of 3.4%. S&T Bancorp's dividend payout ratio (DPR) is presently 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.