GAMMA Investing LLC Purchases 64,040 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

GAMMA Investing LLC lifted its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 5,156.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 65,282 shares of the financial services provider’s stock after acquiring an additional 64,040 shares during the quarter. GAMMA Investing LLC owned approximately 0.17% of S&T Bancorp worth $2,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of S&T Bancorp by 29.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,551 shares of the financial services provider’s stock worth $3,728,000 after acquiring an additional 22,387 shares during the period. Rafferty Asset Management LLC lifted its holdings in S&T Bancorp by 25.4% during the 4th quarter. Rafferty Asset Management LLC now owns 34,078 shares of the financial services provider’s stock worth $1,302,000 after purchasing an additional 6,896 shares in the last quarter. ProShare Advisors LLC lifted its holdings in S&T Bancorp by 8.0% during the 4th quarter. ProShare Advisors LLC now owns 190,774 shares of the financial services provider’s stock worth $7,291,000 after purchasing an additional 14,107 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in S&T Bancorp by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 145,257 shares of the financial services provider’s stock worth $5,552,000 after purchasing an additional 2,252 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in S&T Bancorp by 53.6% during the 4th quarter. Millennium Management LLC now owns 32,895 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 11,478 shares in the last quarter. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Stock Performance

NASDAQ:STBA opened at $37.29 on Friday. The business’s 50-day moving average price is $36.38 and its two-hundred day moving average price is $38.20. S&T Bancorp, Inc. has a twelve month low of $29.85 and a twelve month high of $45.79. The stock has a market cap of $1.43 billion, a P/E ratio of 10.94 and a beta of 0.90. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. The firm had revenue of $93.75 million for the quarter, compared to analysts’ expectations of $96.40 million. As a group, equities analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.34 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.36 annualized dividend and a dividend yield of 3.65%. S&T Bancorp’s payout ratio is currently 39.19%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on STBA shares. Keefe, Bruyette & Woods dropped their price objective on S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Wall Street Zen cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, May 24th.

S&T Bancorp Company Profile

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.