Jupiter Topco LLC Takes $840,000 Position in S&T Bancorp, Inc. $STBA

Jupiter Topco LLC acquired a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBAFree Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,119 shares of the financial services provider’s stock, valued at approximately $840,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its position in S&T Bancorp by 10.1% in the 1st quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock valued at $487,000 after acquiring an additional 1,206 shares in the last quarter. AQR Capital Management LLC increased its holdings in S&T Bancorp by 54.9% during the 1st quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider’s stock worth $1,339,000 after purchasing an additional 12,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of S&T Bancorp by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider’s stock valued at $843,000 after purchasing an additional 1,086 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of S&T Bancorp by 7.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,837 shares of the financial services provider’s stock valued at $3,884,000 after purchasing an additional 7,286 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of S&T Bancorp in the first quarter valued at about $4,211,000. 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 that occurred on Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total value of $615,001.86. Following the completion of the transaction, the director directly owned 17,344 shares in the company, valued at $890,440.96. This trade represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.23% of the stock is currently owned by corporate insiders.

S&T Bancorp Stock Performance

Shares of NASDAQ:STBA opened at $50.64 on Monday. The company’s 50-day moving average price is $50.41 and its two-hundred day moving average price is $46.16. S&T Bancorp, Inc. has a one year low of $34.38 and a one year high of $53.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $1.79 billion, a PE ratio of 13.47 and a beta of 0.84.

S&T Bancorp (NASDAQ:STBAGet Free Report) last announced 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 company had revenue of $105.24 million during the quarter, compared to analysts’ expectations of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. On average, equities analysts forecast that S&T Bancorp, Inc. will post 3.93 EPS for the current fiscal year.

S&T Bancorp declared that its board has authorized a stock repurchase plan on Thursday, July 23rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 5.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

S&T Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler upped their price objective on S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods lifted their target price on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Hovde Group reaffirmed a “market perform” rating and set a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. Finally, DA Davidson raised their price target on shares of S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.60.

View Our Latest Report on S&T Bancorp

S&T Bancorp Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for S&T Bancorp (NASDAQ:STBA)

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