Key Financial Inc Lowers Stock Position in S&T Bancorp, Inc. $STBA

Key Financial Inc cut its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,142 shares of the financial services provider’s stock after selling 2,686 shares during the period. Key Financial Inc owned 0.15% of S&T Bancorp worth $2,199,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hussman Strategic Advisors Inc. purchased a new stake in S&T Bancorp during the 2nd quarter worth $397,000. Y Intercept Hong Kong Ltd purchased a new stake in S&T Bancorp during the 2nd quarter worth $219,000. Envestnet Asset Management Inc. boosted its position in S&T Bancorp by 2.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 165,020 shares of the financial services provider’s stock worth $6,241,000 after purchasing an additional 3,756 shares during the period. MQS Management LLC purchased a new stake in S&T Bancorp during the 2nd quarter worth $272,000. Finally, AlphaQuest LLC boosted its position in S&T Bancorp by 607.0% during the 2nd quarter. AlphaQuest LLC now owns 39,555 shares of the financial services provider’s stock worth $1,496,000 after purchasing an additional 33,960 shares during the period. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Price Performance

Shares of NASDAQ:STBA opened at $37.02 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a fifty-two week low of $30.84 and a fifty-two week high of $45.46. The firm has a 50-day simple moving average of $37.77 and a 200 day simple moving average of $37.59. The company has a market cap of $1.42 billion, a PE ratio of 10.67 and a beta of 0.94.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. S&T Bancorp had a net margin of 23.72% and a return on equity of 9.32%. The business had revenue of $107.69 million during the quarter, compared to the consensus estimate of $102.95 million. On average, sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.34. S&T Bancorp’s payout ratio is currently 41.50%.

Insider Buying and Selling at S&T Bancorp

In other S&T Bancorp news, Director Jeffrey D. Grube acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average price of $36.55 per share, with a total value of $91,375.00. Following the transaction, the director directly owned 44,985 shares in the company, valued at approximately $1,644,201.75. This represents a 5.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on STBA. Keefe, Bruyette & Woods boosted their price objective on shares of S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Weiss Ratings upgraded shares of S&T Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Finally, Piper Sandler cut their target price on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.00.

S&T Bancorp 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.