State of Alaska Department of Revenue Purchases 1,583 Shares of S&T Bancorp, Inc. $STBA

State of Alaska Department of Revenue lifted its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,782 shares of the financial services provider’s stock after buying an additional 1,583 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of S&T Bancorp worth $861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in STBA. GAMMA Investing LLC grew its position in shares of S&T Bancorp by 41.9% during the 1st 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. Legend Financial Advisors Inc. bought a new position in shares of S&T Bancorp during the 2nd quarter worth $128,000. Nisa Investment Advisors LLC grew its position in shares of S&T Bancorp by 7.6% during the 1st 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. Wealth Enhancement Advisory Services LLC bought a new position in shares of S&T Bancorp during the 2nd quarter worth $212,000. Finally, US Bancorp DE grew its position in shares of 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 buying an additional 5,238 shares in the last quarter. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Trading Up 0.9%

S&T Bancorp stock opened at $37.71 on Tuesday. The stock has a 50-day moving average of $38.15 and a two-hundred day moving average of $37.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. S&T Bancorp, Inc. has a one year low of $30.84 and a one year high of $45.46. The stock has a market cap of $1.45 billion, a PE ratio of 11.06 and a beta of 0.94.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. On average, research analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.34 dividend. 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%.

Wall Street Analysts Forecast Growth

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