Quantinno Capital Management LP Has $2.82 Million Stock Holdings in S&T Bancorp, Inc. $STBA

Quantinno Capital Management LP raised its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 220.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,325 shares of the financial services provider’s stock after purchasing an additional 46,308 shares during the period. Quantinno Capital Management LP’s holdings in S&T Bancorp were worth $2,816,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its position in 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 buying an additional 20,460 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in S&T Bancorp in the first quarter valued at approximately $1,060,000. Denali Advisors LLC increased its holdings in shares of S&T Bancorp by 43.3% during the fourth quarter. Denali Advisors LLC now owns 127,100 shares of the financial services provider’s stock valued at $5,001,000 after acquiring an additional 38,400 shares in the last quarter. Dean Capital Management increased its holdings in shares of S&T Bancorp by 30.3% during the fourth quarter. Dean Capital Management now owns 47,830 shares of the financial services provider’s stock valued at $1,882,000 after acquiring an additional 11,132 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of S&T Bancorp during the first quarter worth approximately $694,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

S&T Bancorp Price Performance

STBA stock opened at $50.87 on Monday. The firm has a market capitalization of $1.83 billion, a PE ratio of 13.53 and a beta of 0.85. 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’s 50 day moving average is $48.99 and its 200-day moving average is $45.11.

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

S&T Bancorp declared that its board has authorized a share repurchase plan on Thursday, July 23rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 5.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a 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%.

Analysts Set New Price Targets

STBA has been the topic of a number of recent research reports. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. DA Davidson upped 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. Piper Sandler raised their price objective on shares of S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods lifted their price objective on shares of S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Hovde Group reissued a “market perform” rating and set a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. 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 stock. Based on data from MarketBeat.com, S&T Bancorp currently has an average rating of “Moderate Buy” and a consensus price target 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.