S&T Bancorp, Inc. (NASDAQ:STBA) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,971 shares of the financial services provider’s stock after buying an additional 1,661 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in S&T Bancorp were worth $768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Diversified Trust Co raised its stake in S&T Bancorp by 5.7% in the fourth quarter. Diversified Trust Co now owns 10,786 shares of the financial services provider’s stock valued at $360,000 after buying an additional 584 shares in the last quarter. American Century Companies Inc. raised its stake in S&T Bancorp by 54.4% in the third quarter. American Century Companies Inc. now owns 185,495 shares of the financial services provider’s stock valued at $5,023,000 after buying an additional 65,375 shares in the last quarter. Graham Capital Management L.P. raised its stake in S&T Bancorp by 83.0% in the third quarter. Graham Capital Management L.P. now owns 14,548 shares of the financial services provider’s stock valued at $394,000 after buying an additional 6,600 shares in the last quarter. Alps Advisors Inc. raised its stake in S&T Bancorp by 32.2% in the third quarter. Alps Advisors Inc. now owns 12,320 shares of the financial services provider’s stock valued at $334,000 after buying an additional 3,000 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in S&T Bancorp in the third quarter valued at $1,152,000. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $31.27 on Thursday. The stock’s 50-day moving average is $30.96 and its two-hundred day moving average is $30.52. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 8.86 and a beta of 0.77. S&T Bancorp, Inc. has a 1 year low of $24.51 and a 1 year high of $36.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.10. The company had revenue of $103.17 million for the quarter, compared to analyst estimates of $100.10 million. S&T Bancorp had a return on equity of 10.86% and a net margin of 24.68%. Analysts predict that S&T Bancorp, Inc. will post 3 earnings per share for the current year.

About S&T Bancorp

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