Versor Investments LP Makes New Investment in S&T Bancorp, Inc. $STBA

Key Points

• Versor Investments LP made a new investment of approximately $500,000 in S&T Bancorp by acquiring 13,500 shares, reflecting growing institutional interest in the financial services provider.
• S&T Bancorp reported an EPS of $0.83 for the last quarter, surpassing expectations and contributing to a market capitalization of $1.44 billion.
• The company announced a quarterly dividend of $0.34 per share, with a 3.6% yield, to be paid to shareholders on August 28th.

Versor Investments LP acquired a new stake in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,500 shares of the financial services provider's stock, valued at approximately $500,000.

Several other large investors have also made changes to their positions in the business. GAMMA Investing LLC grew its holdings in S&T Bancorp by 41.9% during the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock valued at $65,000 after buying an additional 520 shares in the last quarter. GSA Capital Partners LLP grew its holdings in S&T Bancorp by 519.3% during the 1st quarter. GSA Capital Partners LLP now owns 41,199 shares of the financial services provider's stock valued at $1,526,000 after buying an additional 34,546 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in S&T Bancorp by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,179 shares of the financial services provider's stock valued at $1,159,000 after buying an additional 3,489 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in S&T Bancorp by 100.0% during the 1st quarter. KLP Kapitalforvaltning AS now owns 16,400 shares of the financial services provider's stock valued at $608,000 after buying an additional 8,200 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in S&T Bancorp by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 63,077 shares of the financial services provider's stock valued at $2,337,000 after buying an additional 497 shares in the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Trading Down 0.1%

NASDAQ STBA traded down $0.0450 during trading hours on Monday, hitting $39.1650. 37,952 shares of the company were exchanged, compared to its average volume of 156,169. The stock has a 50-day moving average price of $37.82 and a 200 day moving average price of $37.51. 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 52 week low of $30.84 and a 52 week high of $45.46. The stock has a market cap of $1.50 billion, a PE ratio of 11.49 and a beta of 0.93.

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 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. The company had revenue of $100.07 million during the quarter, compared to analyst estimates of $99.30 million. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 14th. S&T Bancorp's payout ratio is presently 39.88%.

Wall Street Analyst Weigh In

STBA has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on shares of S&T Bancorp in a report on Friday, July 18th. They set a "neutral" rating and a $42.00 price objective for the company. Keefe, Bruyette & Woods cut 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 report on Monday, April 28th. Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Hovde Group started coverage on shares of 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. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.