Traynor Capital Management Inc. Purchases New Stake in S&T Bancorp, Inc. $STBA

Traynor Capital Management Inc. acquired a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,252 shares of the financial services provider’s stock, valued at approximately $536,000.

Several other hedge funds also recently modified their holdings of STBA. EverSource Wealth Advisors LLC raised its stake in shares of S&T Bancorp by 5,223.5% during the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after buying an additional 888 shares during the last quarter. Versant Capital Management Inc grew its holdings in S&T Bancorp by 41.6% during the 3rd quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 384 shares during the period. GAMMA Investing LLC raised its position in shares of S&T Bancorp by 26.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 316 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of S&T Bancorp in the 2nd quarter valued at $91,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of S&T Bancorp by 198.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,933 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 2,613 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on STBA shares. Piper Sandler dropped their price objective on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on shares of S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Finally, Janney Montgomery Scott raised shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Monday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, S&T Bancorp currently has a consensus rating of “Hold” and an average target price of $42.25.

S&T Bancorp Stock Performance

Shares of STBA opened at $42.10 on Friday. The firm has a market cap of $1.61 billion, a P/E ratio of 12.03 and a beta of 0.92. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $43.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average price is $40.67 and its two-hundred day moving average price is $38.80.

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

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

S&T Bancorp Announces Dividend

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

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.