AlphaQuest LLC Has $207,000 Position in S&T Bancorp, Inc. $STBA

Key Points

• AlphaQuest LLC significantly reduced its holdings in S&T Bancorp, Inc. by 77.2% in the first quarter, leaving them with only 5,595 shares valued at $207,000.
• Several hedge funds have increased their stakes in S&T Bancorp, with GAMMA Investing LLC raising its shares by 41.9%, reflecting strong interest from institutional investors who own 65.22% of the company's stock.
• Analysts have given S&T Bancorp a consensus rating of "Hold" with a price target of $42.00, while the company recently reported earnings exceeding expectations with an EPS of $0.83.

AlphaQuest LLC lowered its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 77.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,595 shares of the financial services provider's stock after selling 18,982 shares during the quarter. AlphaQuest LLC's holdings in S&T Bancorp were worth $207,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new stake in S&T Bancorp during the first quarter worth approximately $293,000. Versor Investments LP acquired a new position in shares of S&T Bancorp during the first quarter worth approximately $500,000. Public Sector Pension Investment Board lifted its holdings in shares of S&T Bancorp by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 121,327 shares of the financial services provider's stock worth $4,495,000 after buying an additional 26,041 shares during the last quarter. Nuveen LLC acquired a new position in shares of S&T Bancorp during the first quarter worth approximately $13,151,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of S&T Bancorp by 5.5% during the first 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 last quarter. Institutional investors own 65.22% of the company's stock.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA traded down $0.30 during trading hours on Friday, reaching $39.65. The stock had a trading volume of 23,543 shares, compared to its average volume of 154,377. The business's fifty day moving average is $38.34 and its two-hundred day moving average is $37.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 11.63 and a beta of 0.99. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $45.46.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.03. The business had revenue of $100.07 million during the quarter, compared to analyst estimates of $99.30 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. As a group, research analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, August 14th. S&T Bancorp's dividend payout ratio is currently 39.88%.

Analyst Ratings Changes

STBA has been the subject of a number of research analyst reports. Hovde Group initiated coverage on S&T Bancorp in a report on Friday, June 27th. They set a "market perform" rating and a $41.00 price target for the company. Wall Street Zen upgraded S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Piper Sandler initiated coverage on S&T Bancorp in a report on Friday, July 18th. They set a "neutral" rating and a $42.00 price target for the company. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, S&T Bancorp presently has an average rating of "Hold" and an average target price of $42.00.

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.