Quantinno Capital Management LP Acquires 46,308 Shares of S&T Bancorp, Inc. $STBA

Quantinno Capital Management LP raised its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 220.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 67,325 shares of the financial services provider’s stock after acquiring an additional 46,308 shares during the quarter. Quantinno Capital Management LP owned approximately 0.19% of S&T Bancorp worth $2,816,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of STBA. Lazard Asset Management LLC grew its stake in shares of S&T Bancorp by 6.4% in the first quarter. Lazard Asset Management LLC now owns 15,626 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 937 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in S&T Bancorp by 19.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 123,171 shares of the financial services provider’s stock worth $5,152,000 after purchasing an additional 20,460 shares during the last quarter. Sei Investments Co. bought a new position in S&T Bancorp during the 1st quarter worth $622,000. First Trust Advisors LP lifted its holdings in S&T Bancorp by 9.4% during the 1st quarter. First Trust Advisors LP now owns 123,245 shares of the financial services provider’s stock worth $5,155,000 after buying an additional 10,622 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in S&T Bancorp by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,986 shares of the financial services provider’s stock worth $669,000 after buying an additional 689 shares during the period. Institutional investors own 65.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on STBA. Keefe, Bruyette & Woods upped their price target on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Hovde Group reiterated a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research report on Friday, July 24th. Finally, Piper Sandler raised their price target on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, S&T Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $51.60.

S&T Bancorp Stock Performance

Shares of STBA opened at $50.87 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $48.99 and its two-hundred day simple moving average is $45.11. S&T Bancorp, Inc. has a 12 month low of $34.38 and a 12 month high of $53.50. The stock has a market capitalization of $1.83 billion, a P/E ratio of 13.53 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%.The firm had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. As a group, analysts predict that S&T Bancorp, Inc. will post 3.93 EPS for the current year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.48 annualized dividend and a yield of 2.9%. S&T Bancorp’s payout ratio is 39.36%.

S&T Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, July 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 5.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.