Legend Financial Advisors Inc. Purchases New Shares in S&T Bancorp, Inc. $STBA

Legend Financial Advisors Inc. acquired a new stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,374 shares of the financial services provider’s stock, valued at approximately $128,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in S&T Bancorp by 41.9% in the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 520 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in S&T Bancorp by 7.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 367 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in S&T Bancorp in the 2nd quarter worth $212,000. US Bancorp DE increased its holdings in S&T Bancorp by 1,015.1% during the 1st quarter. US Bancorp DE now owns 5,754 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 5,238 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in S&T Bancorp during the 1st quarter valued at $293,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

S&T Bancorp Stock Down 0.8%

STBA opened at $38.27 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 11.22 and a beta of 0.99. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $45.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50 day moving average price of $38.26 and a 200 day moving average price of $37.45.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Research analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.6%. S&T Bancorp’s dividend payout ratio is currently 39.88%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on STBA shares. Hovde Group initiated coverage on S&T Bancorp in a research note on Friday, June 27th. They set a “market perform” rating and a $41.00 price objective on the stock. Piper Sandler assumed coverage on shares of S&T Bancorp in a report on Friday, July 18th. They issued a “neutral” rating and a $42.00 price objective for the company. Finally, Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $42.00.

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.