7,203 Shares in S&T Bancorp, Inc. $STBA Purchased by MQS Management LLC

MQS Management LLC bought a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,203 shares of the financial services provider’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AlphaQuest LLC grew its holdings in shares of S&T Bancorp by 607.0% during the 2nd quarter. AlphaQuest LLC now owns 39,555 shares of the financial services provider’s stock worth $1,496,000 after purchasing an additional 33,960 shares during the period. Denali Advisors LLC purchased a new position in shares of S&T Bancorp during the 2nd quarter valued at approximately $1,843,000. CWM LLC boosted its stake in shares of S&T Bancorp by 12.3% during the 2nd quarter. CWM LLC now owns 8,083 shares of the financial services provider’s stock valued at $306,000 after buying an additional 888 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of S&T Bancorp by 9.9% during the 2nd quarter. Inspire Investing LLC now owns 10,235 shares of the financial services provider’s stock valued at $387,000 after buying an additional 926 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of S&T Bancorp by 11.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,878 shares of the financial services provider’s stock valued at $1,319,000 after buying an additional 3,699 shares during the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on STBA shares. Keefe, Bruyette & Woods raised their price objective on S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday. Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Piper Sandler decreased their target price on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Weiss Ratings upgraded S&T Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, S&T Bancorp has a consensus rating of “Hold” and an average target price of $41.00.

S&T Bancorp Stock Performance

STBA opened at $36.78 on Tuesday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 10.60 and a beta of 0.94. The stock’s 50 day moving average price is $37.91 and its two-hundred day moving average price is $37.46. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a 12-month low of $30.84 and a 12-month high of $45.46.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $107.69 million for the quarter, compared to analysts’ expectations of $102.95 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.72%. On average, equities analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. S&T Bancorp’s dividend payout ratio (DPR) is 39.19%.

S&T Bancorp Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.