Louisiana State Employees Retirement System Buys Shares of 16,600 S&T Bancorp, Inc. $STBA

Louisiana State Employees Retirement System purchased a new position in S&T Bancorp, Inc. (NASDAQ:STBA) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 16,600 shares of the financial services provider’s stock, valued at approximately $694,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Costello Asset Management INC purchased a new stake in S&T Bancorp in the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of S&T Bancorp by 5,223.5% during 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 in the last quarter. Torren Management LLC purchased a new position in shares of S&T Bancorp during the 4th quarter valued at $37,000. Smithfield Trust Co bought a new position in S&T Bancorp in the 4th quarter worth $40,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in S&T Bancorp in the 3rd quarter worth $50,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Trading Down 0.3%

Shares of S&T Bancorp stock traded down $0.14 on Tuesday, hitting $49.23. 6,615 shares of the company traded hands, compared to its average volume of 248,347. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.77 billion, a PE ratio of 13.77 and a beta of 0.84. The stock’s 50 day moving average price is $45.95 and its 200-day moving average price is $43.36. S&T Bancorp, Inc. has a 52 week low of $34.01 and a 52 week high of $50.40.

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

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued a $0.37 dividend. The ex-dividend date was Thursday, May 14th. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 3.0%. S&T Bancorp’s dividend payout ratio is presently 41.46%.

Analyst Ratings Changes

STBA has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Piper Sandler lifted their price objective on S&T Bancorp from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, S&T Bancorp currently has a consensus rating of “Hold” and a consensus price target of $46.60.

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.