AlphaQuest LLC Has $1.50 Million Stake in S&T Bancorp, Inc. $STBA

AlphaQuest LLC lifted its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 607.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,555 shares of the financial services provider’s stock after buying an additional 33,960 shares during the period. AlphaQuest LLC’s holdings in S&T Bancorp were worth $1,496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of S&T Bancorp by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,574,596 shares of the financial services provider’s stock worth $58,339,000 after buying an additional 81,469 shares during the last quarter. Nuveen LLC purchased a new position in shares of S&T Bancorp in the 1st quarter worth approximately $13,151,000. Bridgeway Capital Management LLC boosted its stake in shares of S&T Bancorp by 1.0% in the 1st quarter. Bridgeway Capital Management LLC now owns 289,222 shares of the financial services provider’s stock worth $10,716,000 after buying an additional 2,767 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of S&T Bancorp by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 206,985 shares of the financial services provider’s stock worth $7,669,000 after buying an additional 5,290 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of S&T Bancorp by 2.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 161,264 shares of the financial services provider’s stock worth $5,975,000 after buying an additional 3,394 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on STBA shares. Weiss Ratings restated a “hold (c+)” rating on shares of S&T Bancorp in a research note on Wednesday, October 8th. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Hovde Group began coverage on shares of S&T Bancorp in a report on Friday, June 27th. They issued a “market perform” rating and a $41.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on shares of S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Piper Sandler began coverage on shares of S&T Bancorp in a report on Friday, July 18th. They issued a “neutral” rating and a $42.00 price target on the stock. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.67.

S&T Bancorp Trading Up 0.4%

Shares of STBA stock opened at $36.44 on Friday. The company’s fifty day simple moving average is $37.93 and its two-hundred day simple moving average is $37.41. 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, Inc. has a 1 year low of $30.84 and a 1 year high of $45.46. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.50 and a beta of 0.94.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. S&T Bancorp had a net margin of 23.72% and a return on equity of 9.32%. The business had revenue of $107.69 million for the quarter, compared to analysts’ expectations of $102.95 million. As a group, analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. S&T Bancorp’s payout ratio is 39.88%.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.