GAMMA Investing LLC Reduces Stake in S&T Bancorp, Inc. $STBA

GAMMA Investing LLC reduced its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 32.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,197 shares of the financial services provider’s stock after selling 565 shares during the period. GAMMA Investing LLC’s holdings in S&T Bancorp were worth $45,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Nisa Investment Advisors LLC boosted its stake in shares of S&T Bancorp by 7.6% in 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 during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in S&T Bancorp in the 2nd quarter worth approximately $212,000. US Bancorp DE boosted its position in S&T Bancorp by 1,015.1% in 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 in the last quarter. EntryPoint Capital LLC purchased a new stake in S&T Bancorp during the first quarter worth $293,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in S&T Bancorp during the first quarter worth $349,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Hovde Group assumed coverage on shares of S&T Bancorp in a report on Friday, June 27th. They set a “market perform” rating and a $41.00 price target on the stock. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of S&T Bancorp in a research note on Saturday, September 27th. Finally, Piper Sandler started coverage on S&T Bancorp in a research report on Friday, July 18th. They set a “neutral” rating and a $42.00 price target on the stock. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, S&T Bancorp presently has a consensus rating of “Hold” and an average target price of $42.00.

S&T Bancorp Stock Up 0.5%

Shares of STBA opened at $37.38 on Friday. The firm has a market cap of $1.43 billion, a P/E ratio of 10.96 and a beta of 0.94. S&T Bancorp, Inc. has a 12-month low of $30.84 and a 12-month high of $45.46. The company’s 50-day moving average price is $38.15 and its 200 day moving average price is $37.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data 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 firm had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. On average, sell-side analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

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

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.