S&T Bancorp, Inc. (NASDAQ:STBA) Stock Position Lifted by Texas Permanent School Fund

Texas Permanent School Fund boosted its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBAGet Rating) by 1.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,417 shares of the financial services provider’s stock after purchasing an additional 519 shares during the period. Texas Permanent School Fund owned about 0.07% of S&T Bancorp worth $779,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STBA. Hsbc Holdings PLC grew its position in S&T Bancorp by 162.2% during the first quarter. Hsbc Holdings PLC now owns 298,507 shares of the financial services provider’s stock valued at $8,857,000 after purchasing an additional 184,677 shares in the last quarter. Victory Capital Management Inc. grew its position in S&T Bancorp by 65.2% during the first quarter. Victory Capital Management Inc. now owns 368,645 shares of the financial services provider’s stock valued at $10,418,000 after purchasing an additional 145,514 shares in the last quarter. State Street Corp grew its position in S&T Bancorp by 8.2% during the first quarter. State Street Corp now owns 1,709,746 shares of the financial services provider’s stock valued at $50,574,000 after purchasing an additional 129,939 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in S&T Bancorp by 416.0% in the second quarter. Assenagon Asset Management S.A. now owns 92,101 shares of the financial services provider’s stock valued at $2,526,000 after acquiring an additional 74,253 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in S&T Bancorp by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,801,524 shares of the financial services provider’s stock valued at $53,290,000 after acquiring an additional 71,752 shares during the last quarter. 62.32% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Price Performance

Shares of S&T Bancorp stock opened at $37.48 on Monday. The firm has a fifty day simple moving average of $33.35 and a 200-day simple moving average of $30.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.06. S&T Bancorp, Inc. has a 1-year low of $26.51 and a 1-year high of $38.39. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 12.45 and a beta of 0.75.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, November 2nd. S&T Bancorp’s payout ratio is presently 41.20%.

Analysts Set New Price Targets

A number of research firms have issued reports on STBA. Stephens lifted their target price on shares of S&T Bancorp from $31.50 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, October 24th. Janney Montgomery Scott began coverage on shares of S&T Bancorp in a research note on Thursday, September 29th. They issued a “neutral” rating and a $32.00 target price for the company. StockNews.com began coverage on shares of S&T Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, DA Davidson reiterated a “neutral” rating on shares of S&T Bancorp in a research note on Wednesday, July 27th.

About S&T Bancorp

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S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Business Banking, Commercial Construction, Consumer Real Estate, and Other Consumer.

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Institutional Ownership by Quarter for S&T Bancorp (NASDAQ:STBA)

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