Schwab Charles Investment Management Inc. grew its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 12.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,714 shares of the financial services provider’s stock after purchasing an additional 17,458 shares during the period. Schwab Charles Investment Management Inc. owned about 0.45% of S&T Bancorp worth $5,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of S&T Bancorp by 48,472.8% in the 1st quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock valued at $149,072,000 after purchasing an additional 4,299,536 shares in the last quarter. Aperio Group LLC boosted its stake in shares of S&T Bancorp by 59.7% in the 2nd quarter. Aperio Group LLC now owns 18,646 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 6,971 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of S&T Bancorp by 186.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 30,433 shares of the financial services provider’s stock valued at $1,092,000 after purchasing an additional 19,816 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of S&T Bancorp by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 25,540 shares of the financial services provider’s stock valued at $916,000 after purchasing an additional 263 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of S&T Bancorp by 39.0% in the 1st quarter. Prudential Financial Inc. now owns 245,878 shares of the financial services provider’s stock valued at $8,508,000 after purchasing an additional 69,020 shares in the last quarter. Institutional investors own 53.82% of the company’s stock.

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Shares of S&T Bancorp, Inc. (STBA) opened at 41.24 on Friday. S&T Bancorp, Inc. has a 1-year low of $25.85 and a 1-year high of $41.47. The stock has a 50 day moving average of $37.92 and a 200-day moving average of $36.09. The firm has a market capitalization of $1.44 billion, a P/E ratio of 18.13 and a beta of 0.86.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The company had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $71.98 million. S&T Bancorp had a net margin of 26.52% and a return on equity of 9.30%. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities analysts expect that S&T Bancorp, Inc. will post $2.30 earnings per share for the current year.

In other news, Director Robert Edward Kane bought 1,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $35.10 per share, with a total value of $35,100.00. Following the completion of the purchase, the director now directly owns 1,997 shares in the company, valued at $70,094.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David P. Ruddock sold 4,414 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $35.00, for a total value of $154,490.00. Following the completion of the sale, the insider now directly owns 10,004 shares of the company’s stock, valued at approximately $350,140. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,739 shares of company stock worth $239,098. 2.71% of the stock is owned by company insiders.

STBA has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of S&T Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Tuesday, July 25th. BidaskClub downgraded shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 price target on shares of S&T Bancorp in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $37.67.

S&T Bancorp Company Profile

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.

Institutional Ownership by Quarter for S&T Bancorp (NASDAQ:STBA)

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