S&T Bancorp, Inc. $STBA Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 37.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,208 shares of the financial services provider’s stock after acquiring an additional 13,988 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.13% of S&T Bancorp worth $1,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its stake in shares of S&T Bancorp by 1.4% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 20,494 shares of the financial services provider’s stock valued at $770,000 after buying an additional 275 shares in the last quarter. GAMMA Investing LLC grew its stake 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 valued at $57,000 after buying an additional 316 shares in the last quarter. Amalgamated Bank grew its stake in shares of S&T Bancorp by 3.4% in the 3rd quarter. Amalgamated Bank now owns 11,313 shares of the financial services provider’s stock valued at $425,000 after buying an additional 368 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of 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 in the last quarter. Finally, Confluence Wealth Services Inc. grew its stake in shares of S&T Bancorp by 1.6% in the 3rd quarter. Confluence Wealth Services Inc. now owns 31,771 shares of the financial services provider’s stock valued at $1,194,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Stock Up 0.3%

STBA opened at $43.11 on Wednesday. S&T Bancorp, Inc. has a 1-year low of $30.84 and a 1-year high of $44.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 12.32 and a beta of 0.86. The business has a 50 day moving average of $42.30 and a 200-day moving average of $40.16.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The company had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $103.46 million. As a group, sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

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

S&T Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, February 12th. S&T Bancorp’s dividend payout ratio is currently 41.14%.

Analyst Ratings Changes

Several equities research analysts recently commented on STBA shares. Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Monday, January 26th. Zacks Research cut S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. DA Davidson started coverage on S&T Bancorp in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, Hovde Group boosted their price target on S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.40.

About S&T Bancorp

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.