Edgestream Partners L.P. Invests $3.19 Million in S&T Bancorp, Inc. $STBA

Edgestream Partners L.P. purchased a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 84,414 shares of the financial services provider’s stock, valued at approximately $3,193,000. Edgestream Partners L.P. owned about 0.22% of S&T Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Legend Financial Advisors Inc. bought a new stake in S&T Bancorp in the second quarter valued at approximately $128,000. Los Angeles Capital Management LLC bought a new stake in shares of S&T Bancorp in the 2nd quarter valued at $203,000. Wealth Enhancement Advisory Services LLC acquired a new stake in S&T Bancorp during the 2nd quarter worth $212,000. US Bancorp DE lifted its holdings in S&T Bancorp by 1,015.1% during the first quarter. US Bancorp DE now owns 5,754 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 5,238 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in S&T Bancorp in the second quarter valued at about $219,000. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Trading Up 1.4%

NASDAQ:STBA opened at $40.43 on Thursday. The company has a market cap of $1.55 billion, a P/E ratio of 11.65 and a beta of 0.94. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $43.67. The business has a 50 day moving average price of $37.62 and a two-hundred day moving average price of $37.86. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07.

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

S&T Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, November 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.34. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.50%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on STBA shares. Piper Sandler dropped their price target on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Keefe, Bruyette & Woods raised their target price on shares of S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, S&T Bancorp presently has a consensus rating of “Hold” and an average target price of $41.00.

Insider Buying and Selling at S&T Bancorp

In related news, Director Jeffrey D. Grube bought 2,500 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.23% of the stock is owned by insiders.

About S&T Bancorp

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.