Hussman Strategic Advisors Inc. Acquires New Stake in S&T Bancorp, Inc. $STBA

Hussman Strategic Advisors Inc. acquired a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,500 shares of the financial services provider’s stock, valued at approximately $397,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of S&T Bancorp by 41.9% in the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider’s stock valued at $65,000 after buying an additional 520 shares during the period. GSA Capital Partners LLP lifted its holdings in S&T Bancorp by 519.3% during the 1st quarter. GSA Capital Partners LLP now owns 41,199 shares of the financial services provider’s stock worth $1,526,000 after buying an additional 34,546 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in S&T Bancorp by 100.0% during the 1st quarter. KLP Kapitalforvaltning AS now owns 16,400 shares of the financial services provider’s stock worth $608,000 after buying an additional 8,200 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in S&T Bancorp by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 63,077 shares of the financial services provider’s stock worth $2,337,000 after buying an additional 497 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in S&T Bancorp by 2.6% during 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 in the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Trading Up 0.5%

NASDAQ:STBA opened at $37.19 on Wednesday. The stock has a 50-day simple moving average of $37.73 and a 200-day simple moving average of $37.60. The stock has a market cap of $1.43 billion, a P/E ratio of 10.72 and a beta of 0.94. S&T Bancorp, Inc. has a 1 year low of $30.84 and a 1 year high of $45.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 return on equity of 9.32% and a net margin of 23.72%. As a group, analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be given a $0.36 dividend. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.9%. S&T Bancorp’s payout ratio is 41.50%.

Wall Street Analysts Forecast Growth

STBA has been the topic of a number of research reports. Weiss Ratings upgraded shares of S&T Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Piper Sandler reduced their target price on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. 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, Keefe, Bruyette & Woods increased 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 report on Friday, October 24th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, S&T Bancorp currently has an average rating of “Hold” and an average target price of $41.00.

Insider Activity at S&T Bancorp

In related news, Director Jeffrey D. Grube bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average cost of $36.55 per share, with a total value of $91,375.00. Following the transaction, the director directly owned 44,985 shares of the company’s stock, valued at approximately $1,644,201.75. This represents a 5.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.23% of the stock is owned by company 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.