Denali Advisors LLC Increases Position in S&T Bancorp, Inc. $STBA

Denali Advisors LLC raised its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 82.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,700 shares of the financial services provider’s stock after buying an additional 39,977 shares during the period. Denali Advisors LLC’s holdings in S&T Bancorp were worth $3,334,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of S&T Bancorp by 5,223.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after buying an additional 888 shares during the period. Versant Capital Management Inc grew its position in S&T Bancorp by 41.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 384 shares in the last quarter. GAMMA Investing LLC increased its stake in S&T Bancorp by 26.4% during the third quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 316 shares during the period. Raymond James Financial Inc. purchased a new stake in S&T Bancorp during the second quarter worth about $91,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of S&T Bancorp by 198.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,933 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 2,613 shares in the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Trading Up 0.7%

Shares of NASDAQ:STBA opened at $43.68 on Monday. The company has a market cap of $1.67 billion, a PE ratio of 12.48 and a beta of 0.93. The company’s 50 day moving average is $41.51 and its two-hundred day moving average is $39.22. S&T Bancorp, Inc. has a 52 week low of $30.84 and a 52 week high of $44.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. The firm had revenue of $105.90 million during the quarter, compared to the consensus estimate of $103.46 million. Equities analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp declared that its Board of Directors has approved a stock buyback plan on Thursday, January 22nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

S&T Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be issued a $0.36 dividend. The ex-dividend date is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.3%. S&T Bancorp’s dividend payout ratio is presently 41.14%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on STBA shares. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Piper Sandler reduced their price objective on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Finally, Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, S&T Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $42.25.

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.