Denali Advisors LLC Takes $200,000 Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Denali Advisors LLC purchased a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,000 shares of the financial services provider’s stock, valued at approximately $200,000.

A number of other large investors also recently bought and sold shares of STBA. Louisiana State Employees Retirement System increased its stake in S&T Bancorp by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in S&T Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock worth $1,073,000 after purchasing an additional 432 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in S&T Bancorp by 4.2% in the second quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 584 shares during the period. Legato Capital Management LLC increased its position in shares of S&T Bancorp by 2.2% in the second quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock valued at $1,067,000 after buying an additional 703 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of S&T Bancorp by 8.4% during the 2nd quarter. Diversified Trust Co now owns 11,688 shares of the financial services provider’s stock worth $390,000 after buying an additional 902 shares during the period. Institutional investors own 65.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on STBA. StockNews.com downgraded shares of S&T Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. DA Davidson boosted their price objective on S&T Bancorp from $32.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th.

S&T Bancorp Stock Up 0.4 %

NASDAQ STBA opened at $43.15 on Wednesday. The business has a fifty day moving average price of $41.16 and a 200 day moving average price of $34.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $1.65 billion, a P/E ratio of 12.22 and a beta of 0.79. S&T Bancorp, Inc. has a one year low of $24.51 and a one year high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. The business had revenue of $142.07 million during the quarter, compared to analysts’ expectations of $95.85 million. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. During the same period in the prior year, the business earned $0.89 earnings per share. Research analysts anticipate that S&T Bancorp, Inc. will post 3.31 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Thursday, August 8th. S&T Bancorp’s dividend payout ratio (DPR) is 37.39%.

S&T Bancorp Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.