S&T Bancorp, Inc. (NASDAQ:STBA) Stake Raised by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 311.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,617 shares of the financial services provider’s stock after buying an additional 8,038 shares during the period. Russell Investments Group Ltd.’s holdings in S&T Bancorp were worth $367,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in STBA. State of Alaska Department of Revenue boosted its stake in shares of S&T Bancorp by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,850 shares of the financial services provider’s stock valued at $133,000 after buying an additional 70 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of S&T Bancorp during the fourth quarter valued at $219,000. Louisiana State Employees Retirement System boosted its stake in shares of S&T Bancorp by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the financial services provider’s stock valued at $491,000 after buying an additional 200 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of S&T Bancorp by 4.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,830 shares of the financial services provider’s stock valued at $735,000 after buying an additional 740 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of S&T Bancorp by 3.3% in the fourth quarter. Public Sector Pension Investment Board now owns 24,805 shares of the financial services provider’s stock valued at $968,000 after buying an additional 800 shares during the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.
S&T Bancorp, Inc. (NASDAQ:STBA) traded up 1.72% on Friday, hitting $37.31. 23,535 shares of the company traded hands. S&T Bancorp, Inc. has a 12 month low of $25.06 and a 12 month high of $39.84. The stock’s 50-day moving average is $36.47 and its 200 day moving average is $35.74. The firm has a market capitalization of $1.31 billion, a P/E ratio of 16.42 and a beta of 0.84.
S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. S&T Bancorp had a net margin of 26.52% and a return on equity of 9.30%. The company had revenue of $72.84 million during the quarter, compared to the consensus estimate of $71.98 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Equities analysts forecast that S&T Bancorp, Inc. will post $2.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.80 dividend on an annualized basis and a yield of 2.18%. S&T Bancorp’s dividend payout ratio is currently 35.24%.
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Several brokerages have recently weighed in on STBA. BidaskClub cut shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $38.50 price objective on shares of S&T Bancorp in a research note on Thursday. Finally, Zacks Investment Research lowered shares of S&T Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $37.83.
In related news, Director Frank W. Jones sold 1,075 shares of S&T Bancorp stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $37.67, for a total value of $40,495.25. Following the completion of the transaction, the director now owns 25,065 shares in the company, valued at $944,198.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.31% of the stock is owned by insiders.
About S&T Bancorp
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.
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