MQS Management LLC Acquires New Position in S&T Bancorp, Inc. $STBA

MQS Management LLC acquired a new stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,203 shares of the financial services provider’s stock, valued at approximately $272,000.

Several other large investors have also modified their holdings of the business. AlphaQuest LLC raised its holdings in shares of S&T Bancorp by 607.0% in the 2nd quarter. AlphaQuest LLC now owns 39,555 shares of the financial services provider’s stock valued at $1,496,000 after purchasing an additional 33,960 shares in the last quarter. Denali Advisors LLC purchased a new stake in S&T Bancorp during the 2nd quarter worth approximately $1,843,000. CWM LLC lifted its stake in 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 acquiring an additional 888 shares during the period. Inspire Investing LLC lifted its stake in 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 acquiring an additional 926 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 acquiring an additional 3,699 shares during the period. Institutional investors own 65.22% of the company’s stock.

Analysts Set New Price Targets

STBA has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday. Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Weiss Ratings raised shares of S&T Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday. Finally, Piper Sandler lowered their target price 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. One 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.com, S&T Bancorp presently has a consensus rating of “Hold” and an average price target of $41.00.

S&T Bancorp Stock Performance

Shares of S&T Bancorp stock opened at $36.78 on Tuesday. The firm’s fifty day simple moving average is $37.91 and its 200-day simple moving average is $37.46. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 10.60 and a beta of 0.94. S&T Bancorp, Inc. has a 12 month low of $30.84 and a 12 month high of $45.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. S&T Bancorp had a net margin of 23.72% and a return on equity of 9.32%. The business had revenue of $107.69 million for the quarter, compared to analysts’ expectations of $102.95 million. As a group, 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 disclosed 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 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. S&T Bancorp’s dividend payout ratio (DPR) is 39.19%.

S&T Bancorp Company 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.