Louisiana State Employees Retirement System Makes New $638,000 Investment in S&T Bancorp, Inc. (NASDAQ:STBA)

Louisiana State Employees Retirement System purchased a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) in the fourth quarter, HoldingsChannel reports. The firm purchased 19,100 shares of the financial services provider’s stock, valued at approximately $638,000.

A number of other hedge funds have also made changes to their positions in the company. Panagora Asset Management Inc. boosted its stake in shares of S&T Bancorp by 212.9% during the third quarter. Panagora Asset Management Inc. now owns 233,698 shares of the financial services provider’s stock valued at $6,329,000 after acquiring an additional 159,019 shares during the last quarter. Waldron Private Wealth LLC boosted its stake in S&T Bancorp by 581.2% in the 3rd quarter. Waldron Private Wealth LLC now owns 146,558 shares of the financial services provider’s stock worth $3,968,000 after buying an additional 125,042 shares during the last quarter. American Century Companies Inc. boosted its stake in S&T Bancorp by 54.4% in the 3rd quarter. American Century Companies Inc. now owns 185,495 shares of the financial services provider’s stock worth $5,023,000 after buying an additional 65,375 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in S&T Bancorp in the 3rd quarter worth about $1,152,000. Finally, Boston Partners boosted its stake in S&T Bancorp by 10.2% in the 3rd quarter. Boston Partners now owns 416,015 shares of the financial services provider’s stock worth $11,156,000 after buying an additional 38,443 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

S&T Bancorp Stock Performance

S&T Bancorp stock opened at $30.98 on Monday. The stock’s 50-day moving average is $30.90 and its 200-day moving average is $30.59. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 8.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.98. S&T Bancorp, Inc. has a 12 month low of $24.51 and a 12 month high of $36.28.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. The company had revenue of $103.17 million for the quarter, compared to the consensus estimate of $100.10 million. S&T Bancorp had a return on equity of 10.86% and a net margin of 24.68%. Equities analysts anticipate that S&T Bancorp, Inc. will post 3 earnings per share for the current year.

S&T Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.32 annualized dividend and a dividend yield of 4.26%. S&T Bancorp’s payout ratio is currently 37.39%.

S&T Bancorp Profile

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.