NI Acquisitions Company LLC Makes New $714,000 Investment in S&T Bancorp, Inc. $STBA

NI Acquisitions Company LLC acquired a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the second quarter, Holdings Channel reports. The institutional investor acquired 14,545 shares of the financial services provider’s stock, valued at approximately $714,000. S&T Bancorp comprises 0.3% of NI Acquisitions Company LLC’s portfolio, making the stock its 21st largest position.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in S&T Bancorp during the 2nd quarter worth about $253,047,000. Dimensional Fund Advisors LP raised its position in S&T Bancorp by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,345,177 shares of the financial services provider’s stock valued at $98,098,000 after purchasing an additional 6,583 shares in the last quarter. State Street Corp boosted its stake in shares of S&T Bancorp by 3.7% in the 4th quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock valued at $67,815,000 after buying an additional 61,800 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of S&T Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,624,436 shares of the financial services provider’s stock valued at $63,922,000 after buying an additional 20,411 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of S&T Bancorp by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 958,685 shares of the financial services provider’s stock worth $37,729,000 after buying an additional 3,388 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other S&T Bancorp news, Director William Hieb sold 11,979 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total transaction of $615,001.86. Following the transaction, the director directly owned 17,344 shares of the company’s stock, valued at approximately $890,440.96. This trade represents a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

S&T Bancorp Price Performance

Shares of NASDAQ STBA opened at $50.64 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. S&T Bancorp, Inc. has a twelve month low of $34.38 and a twelve month high of $53.50. The stock has a 50 day moving average of $50.41 and a two-hundred day moving average of $46.14. The stock has a market cap of $1.79 billion, a P/E ratio of 13.47 and a beta of 0.84.

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, beating the consensus estimate of $0.92 by $0.10. The business had revenue of $105.24 million during the quarter, compared to the consensus estimate of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. On average, research analysts forecast that S&T Bancorp, Inc. will post 3.93 earnings per share for the current year.

S&T Bancorp announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 23rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to buy up to 5.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 18th were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.48 dividend on an annualized basis and a yield of 2.9%. S&T Bancorp’s dividend payout ratio is currently 39.36%.

About S&T Bancorp

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.