S&T Bancorp, Inc. (STBA) Shares Bought by State Street Corp
State Street Corp lifted its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 840,779 shares of the financial services provider’s stock after purchasing an additional 23,227 shares during the period. State Street Corp owned 2.40% of S&T Bancorp worth $30,152,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of STBA. BlackRock Inc. lifted its position in shares of S&T Bancorp by 48,472.8% in the 1st quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock worth $149,072,000 after purchasing an additional 4,299,536 shares during the period. Vanguard Group Inc. lifted its position in S&T Bancorp by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 3,189,834 shares of the financial services provider’s stock valued at $110,368,000 after acquiring an additional 103,048 shares during the period. Dimensional Fund Advisors LP lifted its position in S&T Bancorp by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,662,587 shares of the financial services provider’s stock valued at $59,621,000 after acquiring an additional 59,351 shares during the period. Mutual of America Capital Management LLC purchased a new position in S&T Bancorp during the 2nd quarter valued at about $1,760,000. Finally, Ameriprise Financial Inc. lifted its position in S&T Bancorp by 16.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 279,541 shares of the financial services provider’s stock valued at $10,028,000 after acquiring an additional 40,464 shares during the period. 53.99% of the stock is owned by hedge funds and other institutional investors.
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In other S&T Bancorp news, insider David P. Ruddock sold 4,414 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $35.00, for a total transaction of $154,490.00. Following the completion of the sale, the insider now directly owns 10,004 shares in the company, valued at approximately $350,140. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas J. Sposito II sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $35.29, for a total transaction of $44,112.50. Following the sale, the insider now owns 25,488 shares of the company’s stock, valued at $899,471.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,715 shares of company stock valued at $283,902. 2.71% of the stock is owned by company insiders.
A number of brokerages recently issued reports on STBA. Boenning Scattergood reissued a “hold” rating on shares of S&T Bancorp in a research report on Friday, October 20th. Piper Jaffray Companies reissued a “hold” rating and set a $36.50 price target on shares of S&T Bancorp in a research report on Thursday, October 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $41.50 price target on shares of S&T Bancorp in a research report on Friday, October 20th. Zacks Investment Research raised shares of S&T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Tuesday, October 24th. Finally, BidaskClub raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. S&T Bancorp has a consensus rating of “Hold” and an average price target of $41.33.
S&T Bancorp, Inc. (STBA) opened at $38.61 on Friday. S&T Bancorp, Inc. has a 12-month low of $31.72 and a 12-month high of $42.36. The stock has a market cap of $1,356.49, a PE ratio of 16.64 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.95 and a current ratio of 0.96.
S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The business had revenue of $71.01 million during the quarter, compared to analyst estimates of $73.70 million. S&T Bancorp had a net margin of 26.44% and a return on equity of 9.41%. During the same period last year, the business earned $0.59 EPS. equities analysts anticipate that S&T Bancorp, Inc. will post 2.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd will be paid a dividend of $0.22 per share. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Wednesday, November 1st. S&T Bancorp’s dividend payout ratio (DPR) is currently 37.77%.
S&T Bancorp Company Profile
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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