Rafferty Asset Management LLC Buys 6,896 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Rafferty Asset Management LLC raised its stake in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 25.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,078 shares of the financial services provider's stock after purchasing an additional 6,896 shares during the quarter. Rafferty Asset Management LLC owned 0.09% of S&T Bancorp worth $1,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co lifted its position in S&T Bancorp by 0.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 39,655 shares of the financial services provider's stock valued at $1,512,000 after purchasing an additional 254 shares during the last quarter. Wells Fargo & Company MN lifted its position in S&T Bancorp by 0.3% in the fourth quarter. Wells Fargo & Company MN now owns 151,252 shares of the financial services provider's stock valued at $5,781,000 after purchasing an additional 410 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in S&T Bancorp by 67.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 502 shares during the last quarter. Bank of Montreal Can lifted its position in S&T Bancorp by 7.7% in the fourth quarter. Bank of Montreal Can now owns 7,550 shares of the financial services provider's stock valued at $289,000 after purchasing an additional 540 shares during the last quarter. Finally, Swiss National Bank lifted its position in S&T Bancorp by 0.8% in the fourth quarter. Swiss National Bank now owns 75,200 shares of the financial services provider's stock valued at $2,874,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 65.22% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price objective 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. Wall Street Zen lowered S&T Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday.

S&T Bancorp Stock Up 1.1%

S&T Bancorp stock traded up $0.40 during mid-day trading on Tuesday, hitting $36.89. The company had a trading volume of 9,543 shares, compared to its average volume of 168,033. The company has a market capitalization of $1.41 billion, a PE ratio of 10.82 and a beta of 0.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a 12 month low of $29.85 and a 12 month high of $45.79. The stock's 50 day moving average price is $36.36 and its two-hundred day moving average price is $38.61.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $93.75 million for the quarter, compared to the consensus estimate of $96.40 million. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. As a group, sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, May 15th. S&T Bancorp's dividend payout ratio is presently 39.19%.

S&T Bancorp Company 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.