173,819 Shares in S&T Bancorp, Inc. $STBA Acquired by Empowered Funds LLC

Empowered Funds LLC bought a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 173,819 shares of the financial services provider’s stock, valued at approximately $8,531,000. Empowered Funds LLC owned about 0.49% of S&T Bancorp at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of S&T Bancorp in the 2nd quarter valued at about $29,000. Costello Asset Management INC bought a new stake in S&T Bancorp in the fourth quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in S&T Bancorp in the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC increased its position in S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 888 shares during the period. Finally, Smithfield Trust Co acquired a new stake in S&T Bancorp during the 4th quarter valued at approximately $40,000. Institutional investors own 65.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. DA Davidson upped their target price on S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Piper Sandler raised their target price on 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 given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.60.

S&T Bancorp Stock Down 0.1%

STBA stock opened at $49.79 on Friday. The stock’s 50 day simple moving average is $50.27 and its 200 day simple moving average is $45.93. S&T Bancorp, Inc. has a fifty-two week low of $34.38 and a fifty-two 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 company has a market cap of $1.76 billion, a P/E ratio of 13.24 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.74% and a net margin of 24.51%. On average, research analysts expect that S&T Bancorp, Inc. will post 3.93 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. S&T Bancorp’s payout ratio is 39.36%.

S&T Bancorp announced that its board has initiated a stock buyback program on Thursday, July 23rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 5.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at S&T Bancorp

In related news, Director William J. Hieb sold 11,979 shares of S&T Bancorp stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total transaction of $615,001.86. Following the transaction, the director owned 17,344 shares of the company’s stock, valued at $890,440.96. The trade was a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.23% of the stock is owned by corporate insiders.

About S&T Bancorp

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.