Y Intercept Hong Kong Ltd Takes $219,000 Position in S&T Bancorp, Inc. $STBA

Y Intercept Hong Kong Ltd purchased a new position in S&T Bancorp, Inc. (NASDAQ:STBA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,797 shares of the financial services provider’s stock, valued at approximately $219,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of S&T Bancorp by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,574,596 shares of the financial services provider’s stock valued at $58,339,000 after buying an additional 81,469 shares in the last quarter. Nuveen LLC bought a new position in shares of S&T Bancorp in the 1st quarter worth about $13,151,000. Bridgeway Capital Management LLC lifted its position in S&T Bancorp by 1.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 289,222 shares of the financial services provider’s stock valued at $10,716,000 after acquiring an additional 2,767 shares during the period. Principal Financial Group Inc. boosted its stake in S&T Bancorp by 2.6% during the first quarter. Principal Financial Group Inc. now owns 206,985 shares of the financial services provider’s stock worth $7,669,000 after acquiring an additional 5,290 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in S&T Bancorp by 2.3% in the second 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. Institutional investors own 65.22% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jeffrey D. Grube bought 2,500 shares of the stock in a transaction on Tuesday, October 28th. The shares were acquired at an average price of $36.55 per share, for a total transaction of $91,375.00. Following the purchase, the director owned 44,985 shares of the company’s stock, valued at approximately $1,644,201.75. The trade was a 5.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Weiss Ratings upgraded S&T Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Keefe, Bruyette & Woods boosted their target price on S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Finally, Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.00.

S&T Bancorp Price Performance

Shares of NASDAQ STBA opened at $38.25 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 11.02 and a beta of 0.98. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $45.46. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $37.63 and a 200 day moving average of $37.65.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, November 6th. The financial services provider reported $0.91 EPS for the quarter. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.72%.The business had revenue of $103.61 million during the quarter. As a group, research analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal 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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.8%. The ex-dividend date is Thursday, November 13th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.34. S&T Bancorp’s dividend payout ratio is 41.50%.

About S&T Bancorp

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.