Global Retirement Partners LLC bought a new stake in S&T Bancorp, Inc. (NASDAQ:STBA – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 77,554 shares of the financial services provider’s stock, valued at approximately $3,052,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Costello Asset Management INC bought a new position in S&T Bancorp in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its position in S&T Bancorp by 5,223.5% in the second 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 during the last quarter. Torren Management LLC bought a new position in S&T Bancorp in the fourth quarter valued at about $37,000. CIBC Private Wealth Group LLC bought a new position in S&T Bancorp in the third quarter valued at about $50,000. Finally, KBC Group NV grew its position in S&T Bancorp by 57.7% in the fourth quarter. KBC Group NV now owns 2,277 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 833 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.
S&T Bancorp Price Performance
S&T Bancorp stock opened at $44.86 on Friday. The stock’s 50 day moving average is $42.96 and its 200 day moving average is $41.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $1.61 billion, a P/E ratio of 12.57 and a beta of 0.85. S&T Bancorp, Inc. has a one year low of $34.01 and a one year high of $45.36.
S&T Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.3%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, May 14th. S&T Bancorp’s payout ratio is presently 41.46%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on STBA. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. DA Davidson began coverage on S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price target on the stock. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday, January 26th. Hovde Group boosted their price target on S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Finally, Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.40.
Check Out Our Latest Research Report on STBA
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.
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