Insider Buying: S & T Bancorp Inc (NASDAQ:STBA) Director Purchases 473 Shares of Stock
S & T Bancorp Inc (NASDAQ:STBA) Director Jerry Delmar Hostetter acquired 473 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $36.68 per share, for a total transaction of $17,349.64. Following the acquisition, the director now directly owns 12,356 shares in the company, valued at approximately $453,218.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of STBA traded up $0.22 during midday trading on Wednesday, reaching $37.69. The company had a trading volume of 44,075 shares, compared to its average volume of 90,614. S & T Bancorp Inc has a 1-year low of $35.16 and a 1-year high of $47.77. The company has a market capitalization of $1.27 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.27 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12.
S & T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). S & T Bancorp had a return on equity of 11.02% and a net margin of 29.41%. The company had revenue of $71.72 million during the quarter, compared to analyst estimates of $72.39 million. As a group, equities analysts anticipate that S & T Bancorp Inc will post 2.91 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Denali Advisors LLC increased its stake in shares of S & T Bancorp by 3,853.2% in the 1st quarter. Denali Advisors LLC now owns 4,309 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 4,200 shares during the last quarter. Lido Advisors LLC acquired a new stake in shares of S & T Bancorp in the 1st quarter worth $208,000. Everence Capital Management Inc. acquired a new stake in shares of S & T Bancorp in the 1st quarter worth $236,000. Millennium Management LLC increased its stake in shares of S & T Bancorp by 47.0% in the 4th quarter. Millennium Management LLC now owns 6,931 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 2,216 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of S & T Bancorp by 6.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,391 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 424 shares during the last quarter. 60.27% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on STBA shares. BidaskClub lowered S & T Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Zacks Investment Research raised S & T Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of S & T Bancorp in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. S & T Bancorp has an average rating of “Hold” and a consensus price target of $51.00.
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About S & T Bancorp
S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.
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