Dark Forest Capital Management LP Acquires Shares of 6,023 S&T Bancorp, Inc. (NASDAQ:STBA)

Dark Forest Capital Management LP bought a new position in S&T Bancorp, Inc. (NASDAQ:STBA) in the 4th quarter, Holdings Channel.com reports. The fund bought 6,023 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently modified their holdings of STBA. Vanguard Group Inc. grew its stake in S&T Bancorp by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider’s stock worth $176,453,000 after purchasing an additional 160,453 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in S&T Bancorp by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,493,127 shares of the financial services provider’s stock worth $57,067,000 after buying an additional 60,617 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of S&T Bancorp by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 201,695 shares of the financial services provider’s stock worth $7,709,000 after acquiring an additional 7,027 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of S&T Bancorp by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 151,252 shares of the financial services provider’s stock valued at $5,781,000 after acquiring an additional 410 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of S&T Bancorp by 333.4% in the 4th quarter. JPMorgan Chase & Co. now owns 150,183 shares of the financial services provider’s stock valued at $5,740,000 after acquiring an additional 115,528 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Trading Up 0.8 %

Shares of NASDAQ STBA opened at $37.17 on Wednesday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 10.90 and a beta of 0.75. The stock’s 50 day simple moving average is $36.80 and its 200 day simple moving average is $38.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a 12-month low of $29.85 and a 12-month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. The business had revenue of $93.75 million during the quarter, compared to the consensus estimate of $96.40 million. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. Equities research analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reduced their price objective on S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating on the stock in a research note on Monday.

Insider Transactions at S&T Bancorp

In related news, Director Bhaskar Ramachandran acquired 764 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $39.25 per share, for a total transaction of $29,987.00. Following the completion of the acquisition, the director now directly owns 1,251 shares of the company’s stock, valued at approximately $49,101.75. The trade was a 156.88 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.23% of the company’s stock.

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.