Public Sector Pension Investment Board Increases Stake in S&T Bancorp, Inc. $STBA

Public Sector Pension Investment Board raised its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 27.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 121,327 shares of the financial services provider's stock after purchasing an additional 26,041 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of S&T Bancorp worth $4,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STBA. Nuveen LLC acquired a new stake in S&T Bancorp during the 1st quarter valued at approximately $13,151,000. Northern Trust Corp grew its position 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 worth $18,476,000 after buying an additional 86,317 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 worth $58,339,000 after buying an additional 81,469 shares during the period. GAMMA Investing LLC grew its position 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 worth $2,419,000 after buying an additional 64,040 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of S&T Bancorp during the 4th quarter worth approximately $1,799,000. Institutional investors and hedge funds own 65.22% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Piper Sandler assumed 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. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, Hovde Group started coverage on S&T Bancorp in a report on Friday, June 27th. They issued a "market perform" rating and a $41.00 target price on the stock. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $42.00.

S&T Bancorp Stock Up 4.8%

NASDAQ:STBA traded up $1.80 during trading hours on Friday, hitting $39.11. 35,612 shares of the company traded hands, compared to its average volume of 155,881. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm's 50-day simple moving average is $37.77 and its 200-day simple moving average is $37.57. S&T Bancorp, Inc. has a one year low of $30.84 and a one year high of $45.46. The company has a market cap of $1.50 billion, a PE ratio of 11.47 and a beta of 0.93.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last issued 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 return on equity of 9.32% and a net margin of 23.39%.The business had revenue of $100.07 million for the quarter, compared to analysts' expectations of $99.30 million. Equities analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, August 14th. S&T Bancorp's payout ratio 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.