Bare Financial Services Inc Purchases Shares of 4,341 S&T Bancorp, Inc. (NASDAQ:STBA)

Bare Financial Services Inc bought a new position in S&T Bancorp, Inc. (NASDAQ:STBA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,341 shares of the financial services provider’s stock, valued at approximately $145,000. S&T Bancorp comprises 0.3% of Bare Financial Services Inc’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale acquired a new position in S&T Bancorp in the 3rd quarter worth about $135,000. Allspring Global Investments Holdings LLC raised its holdings in shares of S&T Bancorp by 17.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,508 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 835 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of S&T Bancorp during the fourth quarter valued at approximately $224,000. Handelsbanken Fonder AB acquired a new position in shares of S&T Bancorp during the fourth quarter valued at approximately $241,000. Finally, Commonwealth Equity Services LLC raised its holdings in shares of S&T Bancorp by 6.0% during the third quarter. Commonwealth Equity Services LLC now owns 9,104 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 512 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Price Performance

Shares of NASDAQ:STBA traded up $0.64 during midday trading on Thursday, hitting $31.53. The company had a trading volume of 149,640 shares, compared to its average volume of 173,389. S&T Bancorp, Inc. has a twelve month low of $24.51 and a twelve month high of $36.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 8.85 and a beta of 0.78. The business’s 50-day simple moving average is $30.84 and its 200-day simple moving average is $30.63.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.32 annualized dividend and a dividend yield of 4.19%. S&T Bancorp’s dividend payout ratio is presently 37.39%.

Analysts Set New Price Targets

Separately, StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd.

S&T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.