Bank of America Corp DE raised its holdings in shares of S & T Bancorp Inc (NASDAQ:STBA) by 45.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,340 shares of the financial services provider’s stock after buying an additional 14,544 shares during the period. Bank of America Corp DE owned about 0.13% of S & T Bancorp worth $2,004,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of S & T Bancorp during the second quarter valued at approximately $117,000. OppenheimerFunds Inc. purchased a new position in shares of S & T Bancorp during the second quarter valued at approximately $205,000. Hapanowicz & Associates Financial Services Inc purchased a new position in shares of S & T Bancorp during the second quarter valued at approximately $206,000. Amalgamated Bank purchased a new stake in shares of S & T Bancorp in the second quarter valued at approximately $217,000. Finally, Fragasso Group Inc. boosted its holdings in shares of S & T Bancorp by 24.6% in the second quarter. Fragasso Group Inc. now owns 6,424 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 1,267 shares during the period. Institutional investors and hedge funds own 60.03% of the company’s stock.
Shares of NASDAQ STBA opened at $41.11 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.41 billion, a P/E ratio of 16.64, a PEG ratio of 1.34 and a beta of 0.68. S & T Bancorp Inc has a 52-week low of $37.79 and a 52-week high of $47.77.
S & T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $71.30 million during the quarter, compared to analyst estimates of $72.99 million. S & T Bancorp had a return on equity of 11.23% and a net margin of 26.45%. Analysts anticipate that S & T Bancorp Inc will post 3.02 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a $0.27 dividend. This is a positive change from S & T Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.63%. S & T Bancorp’s payout ratio is presently 43.72%.
A number of brokerages recently issued reports on STBA. ValuEngine upgraded S & T Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded S & T Bancorp from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a report on Tuesday, October 23rd. Boenning Scattergood reiterated a “hold” rating on shares of S & T Bancorp in a report on Friday, October 19th. BidaskClub upgraded S & T Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Finally, DA Davidson began coverage on S & T Bancorp in a report on Thursday, August 23rd. They issued a “buy” rating and a $54.00 price target for the company. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $48.00.
In other S & T Bancorp news, Director James C. Miller sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $46.44, for a total transaction of $232,200.00. Following the completion of the sale, the director now owns 39,948 shares in the company, valued at $1,855,185.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christina Anne Cassotis bought 1,457 shares of the stock in a transaction on Wednesday, August 22nd. The shares were bought at an average price of $46.49 per share, with a total value of $67,735.93. Following the acquisition, the director now owns 1,636 shares of the company’s stock, valued at $76,057.64. The disclosure for this purchase can be found here. 2.71% of the stock is currently owned by insiders.
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About S & T Bancorp
S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.
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