Mutual of America Capital Management LLC Buys New Position in S&T Bancorp, Inc. (STBA)
Mutual of America Capital Management LLC bought a new stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 49,071 shares of the financial services provider’s stock, valued at approximately $1,760,000. Mutual of America Capital Management LLC owned approximately 0.14% of S&T Bancorp at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of S&T Bancorp during the 1st quarter valued at about $100,000. Burt Wealth Advisors lifted its position in S&T Bancorp by 3.1% during the 2nd quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 100 shares during the period. Victory Capital Management Inc. lifted its position in S&T Bancorp by 5.1% during the 1st quarter. Victory Capital Management Inc. now owns 4,014 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 196 shares during the period. KBC Group NV purchased a new position in S&T Bancorp during the 2nd quarter valued at about $161,000. Finally, OppenheimerFunds Inc. purchased a new position in S&T Bancorp during the 1st quarter valued at about $227,000. 53.82% of the stock is currently owned by hedge funds and other institutional investors.
In other S&T Bancorp news, Director Frank W. Jones sold 1,075 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $37.67, for a total transaction of $40,495.25. Following the transaction, the director now directly owns 25,065 shares in the company, valued at approximately $944,198.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David P. Ruddock sold 4,414 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $35.00, for a total transaction of $154,490.00. Following the transaction, the insider now owns 10,004 shares in the company, valued at $350,140. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,739 shares of company stock worth $239,098. 2.71% of the stock is owned by company insiders.
A number of research analysts recently issued reports on STBA shares. BidaskClub raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research raised shares of S&T Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.50 price target on shares of S&T Bancorp in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.67.
S&T Bancorp, Inc. (STBA) opened at 40.30 on Friday. S&T Bancorp, Inc. has a 12 month low of $25.85 and a 12 month high of $41.00. The stock has a market capitalization of $1.41 billion, a PE ratio of 17.71 and a beta of 0.86. The company’s 50-day moving average is $37.07 and its 200-day moving average is $35.84.
S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. S&T Bancorp had a net margin of 26.52% and a return on equity of 9.30%. The company had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $71.98 million. During the same period in the prior year, the business earned $0.49 EPS. Equities research analysts forecast that S&T Bancorp, Inc. will post $2.30 EPS for the current year.
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About S&T Bancorp
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.
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