14,774 Shares in S&T Bancorp, Inc. $STBA Purchased by Horizon Investments LLC

Horizon Investments LLC purchased a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,774 shares of the financial services provider’s stock, valued at approximately $581,000.

Other large investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its holdings in S&T Bancorp by 32.2% during the third quarter. Public Sector Pension Investment Board now owns 172,697 shares of the financial services provider’s stock worth $6,492,000 after purchasing an additional 42,015 shares in the last quarter. Denali Advisors LLC raised its holdings in S&T Bancorp by 82.0% during the third quarter. Denali Advisors LLC now owns 88,700 shares of the financial services provider’s stock worth $3,334,000 after purchasing an additional 39,977 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in S&T Bancorp by 37.6% during the third quarter. JPMorgan Chase & Co. now owns 51,208 shares of the financial services provider’s stock worth $1,925,000 after purchasing an additional 13,988 shares in the last quarter. New York State Common Retirement Fund raised its holdings in S&T Bancorp by 47.4% during the third quarter. New York State Common Retirement Fund now owns 39,814 shares of the financial services provider’s stock worth $1,497,000 after purchasing an additional 12,800 shares in the last quarter. Finally, Traynor Capital Management Inc. purchased a new position in S&T Bancorp during the third quarter worth about $536,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have 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 target price on the stock in a research report on Monday, January 26th. Hovde Group upped their target price on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. DA Davidson started coverage on shares of S&T Bancorp in a research report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Finally, Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.40.

S&T Bancorp Stock Down 0.0%

STBA stock opened at $44.52 on Friday. The company’s 50 day simple moving average is $42.45 and its 200-day simple moving average is $41.12. The firm has a market capitalization of $1.63 billion, a PE ratio of 12.47 and a beta of 0.85. S&T Bancorp, Inc. has a 12 month low of $34.01 and a 12 month high of $45.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.87 by $0.07. The business had revenue of $102.08 million for the quarter, compared to analyst estimates of $103.62 million. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. Equities analysts expect that S&T Bancorp, Inc. will post 3.75 earnings per share for the current fiscal year.

S&T Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, January 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th will be given a $0.37 dividend. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, May 14th. S&T Bancorp’s dividend payout ratio (DPR) is currently 40.34%.

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.