Empowered Funds LLC Takes $8.53 Million Position in S&T Bancorp, Inc. $STBA

Empowered Funds LLC purchased a new stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 173,819 shares of the financial services provider’s stock, valued at approximately $8,531,000.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in shares of S&T Bancorp during the 2nd quarter worth $29,000. Corient Private Wealth LP bought a new position in S&T Bancorp during the second quarter valued at about $2,381,000. Bank of America Corp DE purchased a new stake in S&T Bancorp during the second quarter worth about $29,117,000. Odyssean LLC bought a new stake in S&T Bancorp in the second quarter worth about $378,000. Finally, Man Group plc purchased a new position in S&T Bancorp in the second quarter valued at about $269,000. Institutional investors own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STBA. Piper Sandler raised their price target on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods increased their price objective on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Hovde Group restated a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. Finally, DA Davidson increased their price target on S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.60.

S&T Bancorp Stock Down 0.1%

S&T Bancorp stock opened at $49.79 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. S&T Bancorp, Inc. has a 1-year low of $34.38 and a 1-year high of $53.50. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 13.24 and a beta of 0.85. The firm has a 50 day simple moving average of $50.27 and a 200 day simple moving average of $45.93.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.92 by $0.10. The company had revenue of $105.24 million during the quarter, compared to analysts’ expectations of $104.43 million. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. On average, analysts predict that S&T Bancorp, Inc. will post 3.93 earnings per share for the current year.

S&T Bancorp Dividend Announcement

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

S&T Bancorp announced that its board has authorized a share buyback program on Thursday, July 23rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 5.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions 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 transaction, the director owned 17,344 shares of the company’s stock, valued at $890,440.96. This represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.23% of the company’s stock.

S&T Bancorp Company 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.