S&T Bancorp, Inc. $STBA Holdings Cut by Susquehanna International Group LLP

Susquehanna International Group LLP reduced its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 48.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,156 shares of the financial services provider’s stock after selling 12,318 shares during the period. Susquehanna International Group LLP’s holdings in S&T Bancorp were worth $646,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of STBA. BlackRock Inc. acquired a new stake in S&T Bancorp in the 2nd quarter valued at approximately $253,047,000. Bank of America Corp DE bought a new stake in shares of S&T Bancorp during the 2nd quarter worth about $29,117,000. Bank of New York Mellon Corp acquired a new stake in shares of S&T Bancorp in the 2nd quarter worth approximately $17,649,000. Empowered Funds LLC bought a new position in shares of S&T Bancorp in the second quarter valued at approximately $8,531,000. Finally, Millennium Management LLC boosted its holdings in shares of S&T Bancorp by 33.5% in the third quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock valued at $17,260,000 after acquiring an additional 115,333 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Insider Buying and Selling at S&T Bancorp

In related news, Director William J. Hieb sold 11,979 shares of the stock in a transaction on 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 owned 17,344 shares in the company, valued at $890,440.96. This trade represents a 40.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on STBA. Piper Sandler boosted their target price on S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Hovde Group reissued a “market perform” rating and issued a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their target price on 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, S&T Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $51.60.

S&T Bancorp Price Performance

NASDAQ STBA opened at $49.48 on Tuesday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 13.16 and a beta of 0.84. S&T Bancorp, Inc. has a 1 year low of $34.38 and a 1 year high of $53.50. The business’s fifty day moving average is $50.32 and its two-hundred day moving average is $45.98. 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 (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The company 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%. On average, research analysts forecast that S&T Bancorp, Inc. will post 3.93 earnings per share for the current fiscal year.

S&T Bancorp announced that its board has approved a share repurchase plan on Thursday, July 23rd that permits the company to buyback $100.00 million in 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 management believes its shares are undervalued.

S&T Bancorp Announces Dividend

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

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.