13,500 Shares in S&T Bancorp, Inc. $STBA Purchased by Versor Investments LP

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

A number of other institutional investors have also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board lifted its stake in S&T Bancorp by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 121,327 shares of the financial services provider's stock valued at $4,495,000 after acquiring an additional 26,041 shares during the last quarter. Nuveen LLC acquired a new stake in S&T Bancorp in the first quarter valued at approximately $13,151,000. Charles Schwab Investment Management Inc. lifted its stake in shares of S&T Bancorp by 5.5% in 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. US Bancorp DE lifted its stake in shares of S&T Bancorp by 1,015.1% in 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, GSA Capital Partners LLP lifted its stake in shares of S&T Bancorp by 519.3% in the first quarter. GSA Capital Partners LLP now owns 41,199 shares of the financial services provider's stock worth $1,526,000 after buying an additional 34,546 shares during the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STBA. Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Piper Sandler began 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. Hovde Group started coverage on shares of S&T Bancorp in a research note on Friday, June 27th. They issued a "market perform" rating and a $41.00 price objective for the company. Finally, Keefe, Bruyette & Woods dropped their target price on shares of S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $42.00.

S&T Bancorp Price Performance

Shares of STBA traded up $0.44 during trading hours on Tuesday, hitting $39.49. The stock had a trading volume of 127,245 shares, compared to its average volume of 134,061. The company's fifty day moving average is $37.96 and its two-hundred day moving average is $37.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. 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 capitalization of $1.51 billion, a price-to-earnings ratio of 11.58 and a beta of 0.93.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its earnings results 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. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. The business had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. On average, analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS 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 yield of 3.4%. S&T Bancorp's dividend payout ratio is 39.88%.

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.