Global Retirement Partners LLC Invests $3.81 Million in S&T Bancorp, Inc. $STBA

Global Retirement Partners LLC purchased a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 77,612 shares of the financial services provider’s stock, valued at approximately $3,809,000. Global Retirement Partners LLC owned 0.22% of S&T Bancorp as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Quantinno Capital Management LP raised its position in shares of S&T Bancorp by 220.3% during the first quarter. Quantinno Capital Management LP now owns 67,325 shares of the financial services provider’s stock worth $2,816,000 after purchasing an additional 46,308 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of S&T Bancorp by 19.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 123,171 shares of the financial services provider’s stock valued at $5,152,000 after purchasing an additional 20,460 shares during the period. Hsbc Holdings PLC acquired a new position in shares of S&T Bancorp in the 1st quarter valued at approximately $1,060,000. Denali Advisors LLC increased its stake in S&T Bancorp by 43.3% during the 4th quarter. Denali Advisors LLC now owns 127,100 shares of the financial services provider’s stock worth $5,001,000 after purchasing an additional 38,400 shares in the last quarter. Finally, Dean Capital Management increased its stake in S&T Bancorp by 30.3% during the 4th quarter. Dean Capital Management now owns 47,830 shares of the financial services provider’s stock worth $1,882,000 after purchasing an additional 11,132 shares in the last quarter. Institutional investors own 65.22% of the company’s stock.

Insider Buying and Selling

In other news, Director William J. Hieb sold 11,979 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total transaction 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 represents a 40.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.23% of the stock is owned by company insiders.

Analyst Ratings Changes

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

S&T Bancorp Price Performance

Shares of STBA opened at $51.14 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. S&T Bancorp, Inc. has a twelve month low of $34.38 and a twelve month high of $53.50. The stock has a market capitalization of $1.80 billion, a P/E ratio of 13.60 and a beta of 0.84. The company has a 50 day moving average of $49.62 and a 200-day moving average of $45.45.

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, topping analysts’ consensus estimates of $0.92 by $0.10. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. The business had revenue of $105.24 million for the quarter, compared to analyst estimates of $104.43 million. As a group, equities research analysts forecast that S&T Bancorp, Inc. will post 3.93 EPS for the current fiscal year.

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

S&T Bancorp Dividend Announcement

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

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.