AlphaQuest LLC Sells 18,982 Shares of 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 trimmed its holdings in 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 fund 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STBA. MetLife Investment Management LLC raised its holdings in S&T Bancorp by 6.7% during the 4th quarter. MetLife Investment Management LLC now owns 22,916 shares of the financial services provider's stock worth $876,000 after purchasing an additional 1,433 shares during the last quarter. Stifel Financial Corp grew its position in shares of S&T Bancorp by 6.3% in the 4th quarter. Stifel Financial Corp now owns 14,509 shares of the financial services provider's stock valued at $555,000 after purchasing an additional 863 shares during the period. Hsbc Holdings PLC grew its position in shares of S&T Bancorp by 97.7% in the 4th quarter. Hsbc Holdings PLC now owns 20,071 shares of the financial services provider's stock valued at $768,000 after purchasing an additional 9,917 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of S&T Bancorp by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,542 shares of the financial services provider's stock valued at $1,359,000 after purchasing an additional 2,672 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in S&T Bancorp during the 4th quarter worth approximately $246,000. 65.22% of the stock is owned by institutional investors.

S&T Bancorp Stock Performance

STBA stock traded up $0.44 during trading hours on Thursday, hitting $39.70. 30,852 shares of the stock were exchanged, compared to its average volume of 154,852. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.52 billion, a P/E ratio of 11.64 and a beta of 0.99. The company has a 50-day simple moving average of $38.31 and a two-hundred day simple moving average of $37.51. S&T Bancorp, Inc. has a 12 month low of $30.84 and a 12 month high of $45.46.

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

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.34 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.4%. S&T Bancorp's dividend payout ratio (DPR) is presently 39.88%.

Wall Street Analysts Forecast Growth

STBA has been the subject of a number of recent research reports. Piper Sandler initiated coverage on S&T Bancorp in a research report on Friday, July 18th. They set a "neutral" rating and a $42.00 price target for the company. Wall Street Zen raised S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. 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 price objective for the company. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, S&T Bancorp currently has an average rating of "Hold" and a consensus 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.