Susquehanna International Group LLP Has $646,000 Stake in S&T Bancorp, Inc. $STBA

Susquehanna International Group LLP trimmed its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 48.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 13,156 shares of the financial services provider’s stock after selling 12,318 shares during the quarter. Susquehanna International Group LLP’s holdings in S&T Bancorp were worth $646,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in STBA. Quantinno Capital Management LP boosted its position in shares of S&T Bancorp by 220.3% in the first quarter. Quantinno Capital Management LP now owns 67,325 shares of the financial services provider’s stock worth $2,816,000 after buying an additional 46,308 shares during the period. Arrowstreet Capital Limited Partnership raised its position in S&T Bancorp by 19.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 123,171 shares of the financial services provider’s stock valued at $5,152,000 after buying an additional 20,460 shares during the period. BlackRock Inc. purchased a new stake in S&T Bancorp in the 2nd quarter worth about $253,047,000. Empowered Funds LLC acquired a new stake in S&T Bancorp during the 2nd quarter worth about $8,531,000. Finally, Global Retirement Partners LLC acquired a new stake in S&T Bancorp during the 2nd quarter worth about $3,809,000. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $49.48 on Tuesday. S&T Bancorp, Inc. has a fifty-two week low of $34.38 and a fifty-two week high of $53.50. The stock’s 50-day moving average is $50.32 and its two-hundred day moving average is $45.98. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $1.74 billion, a P/E ratio of 13.16 and a beta of 0.84.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10. The business had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. Analysts predict that S&T Bancorp, Inc. will post 3.93 earnings per share for the current fiscal year.

S&T Bancorp declared that its board has authorized a share repurchase plan on Thursday, July 23rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

S&T Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 18th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 18th. S&T Bancorp’s dividend payout ratio (DPR) is presently 39.36%.

Insider Transactions at S&T Bancorp

In other S&T Bancorp news, Director William J. Hieb sold 11,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total value of $615,001.86. Following the completion of the sale, the director directly owned 17,344 shares of the company’s stock, valued at $890,440.96. The trade was a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.23% of the stock is owned by company insiders.

Analyst Ratings Changes

STBA has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a research report on Friday, July 24th. Hovde Group reiterated a “market perform” rating and issued a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. Finally, Piper Sandler increased their target price on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.60.

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.