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

Public Sector Pension Investment Board grew its position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 27.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 121,327 shares of the financial services provider's stock after buying an additional 26,041 shares during the period. 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 recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its holdings in shares of S&T Bancorp by 824.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 1,088 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of S&T Bancorp by 41.9% during the first quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock worth $65,000 after purchasing an additional 520 shares during the period. Nisa Investment Advisors LLC increased its stake in 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 valued at $192,000 after acquiring an additional 367 shares during the last quarter. US Bancorp DE grew its stake in shares of S&T Bancorp by 1,015.1% during the first quarter. US Bancorp DE now owns 5,754 shares of the financial services provider's stock worth $213,000 after buying an additional 5,238 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of S&T Bancorp during the fourth quarter worth $230,000. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Trading Down 0.4%

Shares of NASDAQ:STBA traded down $0.16 during midday trading on Tuesday, hitting $37.30. 110,800 shares of the stock traded hands, compared to its average volume of 132,313. The stock has a market capitalization of $1.43 billion, a PE ratio of 10.94 and a beta of 0.93. The business's 50 day moving average is $37.77 and its two-hundred day moving average is $37.58. 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, Inc. has a one year low of $30.84 and a one year high of $45.46.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.83 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $100.07 million during the quarter, compared to analyst estimates of $99.30 million. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.6%. S&T Bancorp's payout ratio is currently 39.88%.

Analyst Ratings Changes

A number of 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 research report on Sunday, July 20th. Keefe, Bruyette & Woods decreased 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 note on Monday, April 28th. Hovde Group started coverage on S&T Bancorp in a report on Friday, June 27th. They set a "market perform" rating and a $41.00 price objective for the company. Finally, Piper Sandler started coverage on shares of S&T Bancorp in a research note on Friday, July 18th. They issued a "neutral" rating and a $42.00 price objective for the company. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, S&T Bancorp has a consensus rating of "Hold" and an average target price of $42.00.

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.