Brandywine Global Investment Management LLC Sells 3,300 Shares of S&T Bancorp, Inc. $STBA

Brandywine Global Investment Management LLC lowered its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,356 shares of the financial services provider’s stock after selling 3,300 shares during the quarter. Brandywine Global Investment Management LLC owned 0.21% of S&T Bancorp worth $3,115,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of S&T Bancorp during the 1st quarter valued at about $349,000. KLP Kapitalforvaltning AS grew its stake in shares of S&T Bancorp by 100.0% during the 1st quarter. KLP Kapitalforvaltning AS now owns 16,400 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 8,200 shares during the period. Royce & Associates LP increased its holdings in S&T Bancorp by 2.7% in the 1st quarter. Royce & Associates LP now owns 36,282 shares of the financial services provider’s stock worth $1,344,000 after acquiring an additional 963 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of S&T Bancorp by 519.3% in the first quarter. GSA Capital Partners LLP now owns 41,199 shares of the financial services provider’s stock worth $1,526,000 after purchasing an additional 34,546 shares in the last quarter. Finally, US Bancorp DE increased its stake 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 buying an additional 5,238 shares in the last quarter. Institutional investors own 65.22% of the company’s stock.

Wall Street Analyst Weigh In

STBA has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&T Bancorp in a research note on Wednesday, November 19th. Finally, Piper Sandler reduced their target price on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.00.

Insider Buying and Selling

In related news, Director Jeffrey D. Grube bought 2,500 shares of S&T Bancorp stock in a transaction dated Tuesday, October 28th. The shares were acquired at an average cost of $36.55 per share, with a total value of $91,375.00. Following the completion of the transaction, the director owned 44,985 shares in the company, valued at $1,644,201.75. The trade was a 5.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.23% of the stock is owned by corporate insiders.

S&T Bancorp Stock Performance

Shares of S&T Bancorp stock opened at $39.76 on Tuesday. 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 stock’s fifty day moving average is $37.47 and its two-hundred day moving average is $37.78. S&T Bancorp, Inc. has a 52 week low of $30.84 and a 52 week high of $45.46. The company has a market capitalization of $1.52 billion, a PE ratio of 11.46 and a beta of 0.98.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The business had revenue of $103.61 million during the quarter. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.72%. As a group, analysts expect that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be given a $0.36 dividend. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.44 annualized dividend and a yield of 3.6%. S&T Bancorp’s dividend payout ratio is presently 41.50%.

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.