Public Sector Pension Investment Board Acquires 42,015 Shares of S&T Bancorp, Inc. $STBA

Public Sector Pension Investment Board raised its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 32.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,697 shares of the financial services provider’s stock after purchasing an additional 42,015 shares during the quarter. Public Sector Pension Investment Board owned 0.45% of S&T Bancorp worth $6,492,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in S&T Bancorp by 5,223.5% in 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 period. Versant Capital Management Inc boosted its position in S&T Bancorp by 41.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after buying an additional 384 shares during the period. GAMMA Investing LLC grew its stake in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of S&T Bancorp during the second quarter worth approximately $91,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of S&T Bancorp by 198.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,933 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 2,613 shares in the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Trading Up 0.1%

Shares of NASDAQ STBA opened at $44.00 on Thursday. S&T Bancorp, Inc. has a 1-year low of $30.84 and a 1-year high of $44.80. The business has a fifty day moving average price of $41.68 and a 200 day moving average price of $39.36. The stock has a market capitalization of $1.68 billion, a P/E ratio of 12.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. The business had revenue of $105.90 million during the quarter, compared to the consensus estimate of $103.46 million. Equities research analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

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

S&T Bancorp announced that its board has authorized a share buyback program on Thursday, January 22nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on STBA shares. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, January 26th. Keefe, Bruyette & Woods raised their price target on S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, October 24th. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Piper Sandler dropped 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 Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, S&T Bancorp has a consensus rating of “Moderate Buy” and an average price target of $42.25.

S&T Bancorp 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.