First Commonwealth Financial Corp PA Has $7 Million Stock Position in S&T Bancorp, Inc. $STBA

First Commonwealth Financial Corp PA decreased its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 9.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 186,127 shares of the financial services provider’s stock after selling 19,087 shares during the period. S&T Bancorp accounts for about 3.4% of First Commonwealth Financial Corp PA’s holdings, making the stock its 5th largest position. First Commonwealth Financial Corp PA owned about 0.49% of S&T Bancorp worth $6,997,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in STBA. EverSource Wealth Advisors LLC lifted its holdings in S&T Bancorp by 5,223.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 888 shares during the last quarter. Versant Capital Management Inc grew its holdings in S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 384 shares during the last quarter. GAMMA Investing LLC grew its holdings in S&T Bancorp by 26.4% during the third quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 316 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of S&T Bancorp in the second quarter valued at approximately $91,000. Finally, iSAM Funds UK Ltd bought a new position in shares of S&T Bancorp in the third quarter valued at approximately $143,000. 65.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, January 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Hovde Group lifted their target price on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Wall Street Zen lowered shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.40.

S&T Bancorp Stock Down 0.4%

Shares of STBA stock opened at $40.20 on Monday. S&T Bancorp, Inc. has a 12 month low of $30.84 and a 12 month high of $44.91. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.47 billion, a PE ratio of 11.49 and a beta of 0.92. The stock has a 50 day moving average of $42.09 and a 200-day moving average of $39.92.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. The business had revenue of $105.90 million for the quarter, compared to the consensus estimate of $103.46 million. On average, equities analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.6%. S&T Bancorp’s dividend payout ratio is 41.14%.

S&T Bancorp declared that its board has initiated a stock repurchase program on Thursday, January 22nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

S&T Bancorp Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.