Traynor Capital Management Inc. Makes New Investment in S&T Bancorp, Inc. $STBA

Traynor Capital Management Inc. purchased a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,252 shares of the financial services provider’s stock, valued at approximately $536,000.

A number of other institutional investors have also made changes to their positions in STBA. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of S&T Bancorp by 2.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,763 shares of the financial services provider’s stock worth $1,344,000 after buying an additional 885 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in S&T Bancorp by 13.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,831 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 1,377 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of S&T Bancorp by 19.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,389 shares of the financial services provider’s stock worth $238,000 after buying an additional 1,058 shares during the period. Amalgamated Bank boosted its holdings in shares of S&T Bancorp by 3.4% during the third quarter. Amalgamated Bank now owns 11,313 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 368 shares during the period. Finally, Confluence Wealth Services Inc. boosted its stake in S&T Bancorp by 1.6% in the 3rd quarter. Confluence Wealth Services Inc. now owns 31,771 shares of the financial services provider’s stock valued at $1,194,000 after purchasing an additional 500 shares during the period. Institutional investors own 65.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on STBA. Piper Sandler cut their price objective on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Keefe, Bruyette & Woods lifted their price objective on S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, S&T Bancorp currently has an average rating of “Hold” and a consensus price target of $42.25.

S&T Bancorp Price Performance

Shares of STBA stock opened at $42.10 on Friday. The business has a fifty day simple moving average of $40.67 and a 200 day simple moving average of $38.80. The company has a market cap of $1.61 billion, a P/E ratio of 12.03 and a beta of 0.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $43.90.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The firm had revenue of $105.29 million during the quarter, compared to the consensus estimate of $103.46 million. On average, sell-side analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be given a $0.36 dividend. The ex-dividend date is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.4%. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.14%.

S&T Bancorp announced that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.