Earnest Partners LLC Lowers Stake in S&T Bancorp, Inc. $STBA

Earnest Partners LLC lessened its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,573 shares of the financial services provider’s stock after selling 15,336 shares during the period. Earnest Partners LLC owned about 0.61% of S&T Bancorp worth $8,780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in 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 worth $34,000 after acquiring an additional 888 shares during the period. Versant Capital Management Inc raised its holdings 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of S&T Bancorp by 26.4% during the 3rd 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 position in shares of S&T Bancorp during the 2nd quarter worth $91,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of S&T Bancorp during the third quarter worth $143,000. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Price Performance

STBA opened at $40.20 on Monday. The company has a fifty day simple moving average of $42.09 and a 200 day simple moving average of $39.92. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 11.49 and a beta of 0.92. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $44.91. 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 quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The firm had revenue of $105.90 million for the quarter, compared to analyst estimates of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. Equities research analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

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

S&T Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, February 12th. S&T Bancorp’s payout ratio is presently 41.14%.

Analysts Set New Price Targets

STBA has been the subject of a number of recent analyst reports. Hovde Group lifted their price objective on S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Wall Street Zen lowered S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. DA Davidson assumed coverage on shares of S&T Bancorp in a research note on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective for the company. Finally, Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, S&T Bancorp presently has an average rating of “Hold” and a consensus target price of $44.40.

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.