S&T Bancorp, Inc. $STBA Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 172,697 shares of the financial services provider’s stock after purchasing an additional 42,015 shares during the quarter. Public Sector Pension Investment Board’s holdings in S&T Bancorp were worth $6,492,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of STBA. Geode Capital Management LLC increased its stake in S&T Bancorp by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 955,356 shares of the financial services provider’s stock valued at $36,134,000 after purchasing an additional 9,452 shares in the last quarter. American Century Companies Inc. increased its position in shares of S&T Bancorp by 0.5% in the 2nd quarter. American Century Companies Inc. now owns 698,519 shares of the financial services provider’s stock valued at $26,418,000 after acquiring an additional 3,613 shares during the period. S&T Bank PA increased its position in shares of S&T Bancorp by 2.3% in the 2nd quarter. S&T Bank PA now owns 324,603 shares of the financial services provider’s stock valued at $12,276,000 after acquiring an additional 7,230 shares during the period. Bridgeway Capital Management LLC raised its stake in S&T Bancorp by 1.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 292,031 shares of the financial services provider’s stock worth $11,045,000 after acquiring an additional 2,809 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in S&T Bancorp by 2.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 165,020 shares of the financial services provider’s stock worth $6,241,000 after acquiring an additional 3,756 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

STBA has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Piper Sandler decreased their price objective on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Janney Montgomery Scott raised shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.25.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA opened at $44.00 on Thursday. S&T Bancorp, Inc. has a 1 year low of $30.84 and a 1 year high of $44.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The company’s fifty day moving average price is $41.68 and its 200 day moving average price is $39.36. The company has a market capitalization of $1.68 billion, a PE ratio of 12.57 and a beta of 0.93.

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

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.3%. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.14%.

S&T Bancorp declared that its Board of Directors has authorized a share buyback plan on Thursday, January 22nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management 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.