14,878 Shares in S&T Bancorp, Inc. $STBA Bought by Sei Investments Co.

Sei Investments Co. purchased a new stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,878 shares of the financial services provider’s stock, valued at approximately $622,000.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of 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 worth $487,000 after buying an additional 1,206 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of S&T Bancorp by 54.9% in the 1st quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider’s stock worth $1,339,000 after buying an additional 12,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of S&T Bancorp by 5.0% during 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 buying an additional 1,086 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of S&T Bancorp by 7.5% during 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 buying an additional 7,286 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of S&T Bancorp in the 1st quarter valued at about $4,211,000. Institutional investors own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on STBA shares. Keefe, Bruyette & Woods lifted their price target on S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Hovde Group reiterated a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th. Piper Sandler boosted their target price on S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. DA Davidson increased their price target on S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.60.

S&T Bancorp Price Performance

Shares of STBA stock opened at $51.14 on Friday. S&T Bancorp, Inc. has a 52-week low of $34.38 and a 52-week high of $53.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $1.80 billion, a P/E ratio of 13.60 and a beta of 0.85. The stock has a 50 day moving average price of $49.62 and a 200 day moving average price of $45.43.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.92 by $0.10. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%.The company had revenue of $105.24 million for the quarter, compared to the consensus estimate of $104.43 million. As a group, sell-side analysts predict that S&T Bancorp, Inc. will post 3.93 earnings per share for the current year.

S&T Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 18th. S&T Bancorp’s payout ratio is currently 39.36%.

S&T Bancorp announced that its board has initiated a stock repurchase plan on Thursday, July 23rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at S&T Bancorp

In other news, Director William J. Hieb sold 11,979 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total value of $615,001.86. Following the transaction, the director directly owned 17,344 shares in the company, valued at approximately $890,440.96. This represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.23% of the company’s stock.

S&T Bancorp 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.