S&T Bancorp, Inc. $STBA Holdings Reduced by Key Financial Inc

Key Financial Inc decreased its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 4.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 58,142 shares of the financial services provider’s stock after selling 2,686 shares during the period. Key Financial Inc’s holdings in S&T Bancorp were worth $2,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Hussman Strategic Advisors Inc. bought a new position in S&T Bancorp in the 2nd quarter worth about $397,000. Y Intercept Hong Kong Ltd bought a new position in S&T Bancorp in the 2nd quarter worth about $219,000. Envestnet Asset Management Inc. grew its position in S&T Bancorp by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 165,020 shares of the financial services provider’s stock worth $6,241,000 after purchasing an additional 3,756 shares during the last quarter. MQS Management LLC bought a new position in S&T Bancorp in the 2nd quarter worth about $272,000. Finally, AlphaQuest LLC grew its position in S&T Bancorp by 607.0% in the 2nd quarter. AlphaQuest LLC now owns 39,555 shares of the financial services provider’s stock worth $1,496,000 after purchasing an additional 33,960 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Trading Up 1.0%

S&T Bancorp stock opened at $37.02 on Tuesday. The firm has a 50 day simple moving average of $37.77 and a 200-day simple moving average of $37.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $1.42 billion, a PE ratio of 10.67 and a beta of 0.94. S&T Bancorp, Inc. has a 12-month low of $30.84 and a 12-month high of $45.46.

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

S&T Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be paid a dividend of $0.36 per share. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, November 13th. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.50%.

Analyst Ratings Changes

Several research firms have commented on STBA. Keefe, Bruyette & Woods upped their target price on shares of S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Weiss Ratings upgraded shares of S&T Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Piper Sandler decreased their price objective on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, S&T Bancorp presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Insider Buying and Selling

In other S&T Bancorp news, Director Jeffrey D. Grube bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average cost of $36.55 per share, with a total value of $91,375.00. Following the completion of the purchase, the director directly owned 44,985 shares in the company, valued at approximately $1,644,201.75. This trade represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.23% of the stock is currently owned by corporate insiders.

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.