S&T Bancorp, Inc. $STBA Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 47.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,814 shares of the financial services provider’s stock after purchasing an additional 12,800 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of S&T Bancorp worth $1,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of STBA. EverSource Wealth Advisors LLC grew its stake in S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after buying an additional 888 shares during the last quarter. Versant Capital Management Inc grew its position in shares of S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 384 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of S&T Bancorp by 26.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 316 shares during the period. Raymond James Financial Inc. bought a new stake in S&T Bancorp in the 2nd quarter valued at about $91,000. Finally, Tower Research Capital LLC TRC boosted its stake in S&T Bancorp by 198.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,933 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 2,613 shares during the period. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Trading Up 0.3%

Shares of NASDAQ:STBA opened at $44.28 on Tuesday. 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 stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 12.65 and a beta of 0.93. S&T Bancorp, Inc. has a 1-year low of $30.84 and a 1-year high of $44.66. The company has a 50 day moving average price of $41.22 and a 200 day moving average price of $39.04.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. The company had revenue of $105.29 million during the quarter, compared to the consensus estimate of $103.46 million. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%. On average, research analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, January 22nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.3%. S&T Bancorp’s dividend payout ratio is currently 41.14%.

Analysts Set New Price Targets

Several brokerages have commented on STBA. Piper Sandler dropped their price target on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Keefe, Bruyette & Woods raised their target price on 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. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Monday, January 26th. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, S&T Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.25.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.