Jupiter Topco LLC Makes New Investment in S&T Bancorp, Inc. $STBA

Jupiter Topco LLC bought a new stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,119 shares of the financial services provider’s stock, valued at approximately $840,000.

Other hedge funds also recently modified their holdings of the company. Costello Asset Management INC bought a new stake in shares of S&T Bancorp during the fourth quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in S&T Bancorp in the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its stake in S&T Bancorp by 5,223.5% in the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 888 shares during the last quarter. Smithfield Trust Co bought a new position in S&T Bancorp in the fourth quarter valued at approximately $40,000. Finally, Strs Ohio acquired a new stake in S&T Bancorp during the 1st quarter worth $54,000. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Price Performance

Shares of NASDAQ STBA opened at $50.64 on Monday. The stock has a market cap of $1.79 billion, a P/E ratio of 13.47 and a beta of 0.84. The firm has a 50 day moving average price of $50.41 and a 200 day moving average price of $46.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. S&T Bancorp, Inc. has a 52-week low of $34.38 and a 52-week high of $53.50.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. The company had revenue of $105.24 million for the quarter, compared to analyst estimates of $104.43 million. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. Analysts expect that S&T Bancorp, Inc. will post 3.93 EPS for the current year.

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

S&T Bancorp Announces Dividend

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

Insider Buying and Selling

In other S&T Bancorp news, Director William Hieb sold 11,979 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $890,440.96. The trade was a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on STBA shares. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods raised 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 reaffirmed a “market perform” rating and set a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. DA Davidson upped their price objective 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, Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research note on Friday, July 24th. One research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.60.

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.