NI Acquisitions Company LLC Makes New Investment in S&T Bancorp, Inc. $STBA

NI Acquisitions Company LLC bought a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,545 shares of the financial services provider’s stock, valued at approximately $714,000. S&T Bancorp comprises 0.3% of NI Acquisitions Company LLC’s investment portfolio, making the stock its 21st biggest position.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of S&T Bancorp by 5.0% during the 1st quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock worth $238,000 after buying an additional 269 shares during the last quarter. GAMMA Investing LLC lifted its holdings in S&T Bancorp by 16.4% in the second quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 285 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in S&T Bancorp by 3.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 8,414 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 300 shares during the last quarter. Captrust Financial Advisors grew its position in S&T Bancorp by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 10,992 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 345 shares during the period. Finally, Inspire Investing LLC grew its position in S&T Bancorp by 3.6% in the first quarter. Inspire Investing LLC now owns 12,270 shares of the financial services provider’s stock worth $513,000 after acquiring an additional 423 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Insiders Place Their Bets

In other S&T Bancorp news, Director William Hieb sold 11,979 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total transaction of $615,001.86. Following the sale, the director directly owned 17,344 shares in the company, valued at $890,440.96. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. DA Davidson increased their price target on S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Hovde Group reissued a “market perform” rating and set a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. Finally, Piper Sandler upped their target price on shares of S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.60.

S&T Bancorp Stock Up 1.1%

Shares of NASDAQ STBA opened at $50.64 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $50.41 and its two-hundred day moving average is $46.14. S&T Bancorp, Inc. has a 52-week low of $34.38 and a 52-week high of $53.50. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 13.47 and a beta of 0.84.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The business had revenue of $105.24 million during the quarter, compared to analysts’ expectations of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. Research analysts predict that S&T Bancorp, Inc. will post 3.93 EPS for the current year.

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

S&T Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 18th. S&T Bancorp’s payout ratio is currently 39.36%.

S&T Bancorp Company 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.