First Commonwealth Financial Corp PA Has $7 Million Stake in S&T Bancorp, Inc. $STBA

First Commonwealth Financial Corp PA cut its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,127 shares of the financial services provider’s stock after selling 19,087 shares during the quarter. S&T Bancorp accounts for 3.4% of First Commonwealth Financial Corp PA’s portfolio, making the stock its 5th biggest holding. First Commonwealth Financial Corp PA’s holdings in S&T Bancorp were worth $6,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in S&T Bancorp by 5,223.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 888 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of S&T Bancorp by 41.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 384 shares during the period. GAMMA Investing LLC grew its holdings in shares of S&T Bancorp by 26.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 316 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of S&T Bancorp during the 2nd quarter worth approximately $91,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of S&T Bancorp during the third quarter valued at approximately $143,000. 65.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen lowered S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Hovde Group lifted their price target on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, January 26th. Finally, DA Davidson started coverage on shares of S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.40.

S&T Bancorp Trading Down 0.4%

Shares of STBA opened at $40.20 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.47 billion, a PE ratio of 11.49 and a beta of 0.92. S&T Bancorp, Inc. has a 1 year low of $30.84 and a 1 year high of $44.91. The stock has a 50 day simple moving average of $42.09 and a 200-day simple moving average of $39.92.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The business had revenue of $105.90 million for the quarter, compared to analyst estimates of $103.46 million. On average, sell-side analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, February 12th. S&T Bancorp’s payout ratio is currently 41.14%.

S&T Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, January 22nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are generally a sign 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.