US Bancorp DE Increases Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

US Bancorp DE increased its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 1,015.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,754 shares of the financial services provider’s stock after buying an additional 5,238 shares during the quarter. US Bancorp DE’s holdings in S&T Bancorp were worth $213,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its position in S&T Bancorp by 824.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,088 shares in the last quarter. GAMMA Investing LLC lifted its position in S&T Bancorp by 41.9% during the first quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider’s stock worth $65,000 after buying an additional 520 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in S&T Bancorp by 7.6% during the first quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider’s stock worth $192,000 after buying an additional 367 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in S&T Bancorp during the fourth quarter worth approximately $230,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in S&T Bancorp during the fourth quarter worth approximately $246,000. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Price Performance

NASDAQ:STBA opened at $37.18 on Friday. S&T Bancorp, Inc. has a 52 week low of $30.84 and a 52 week 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 market capitalization of $1.43 billion, a P/E ratio of 10.90 and a beta of 0.93. The stock’s fifty day moving average is $37.78 and its two-hundred day moving average is $37.60.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $100.07 million for the quarter, compared to the consensus estimate of $99.30 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. Equities analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, August 14th. S&T Bancorp’s payout ratio is currently 39.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on STBA shares. Piper Sandler started coverage on S&T Bancorp in a research report on Friday, July 18th. They issued a “neutral” rating and a $42.00 target price on the stock. Hovde Group started coverage on S&T Bancorp in a research report on Friday, June 27th. They issued a “market perform” rating and a $41.00 target price on the stock. Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Keefe, Bruyette & Woods reduced their target price on S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th.

S&T Bancorp 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.