S&T Bancorp, Inc. $STBA Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 2.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 165,020 shares of the financial services provider’s stock after acquiring an additional 3,756 shares during the quarter. Envestnet Asset Management Inc.’s holdings in S&T Bancorp were worth $6,241,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in S&T Bancorp by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,574,596 shares of the financial services provider’s stock valued at $58,339,000 after buying an additional 81,469 shares during the period. Nuveen LLC acquired a new stake in shares of S&T Bancorp in the first quarter worth $13,151,000. Bridgeway Capital Management LLC raised its stake in shares of S&T Bancorp by 1.0% in the 1st quarter. Bridgeway Capital Management LLC now owns 289,222 shares of the financial services provider’s stock valued at $10,716,000 after acquiring an additional 2,767 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of S&T Bancorp by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 206,985 shares of the financial services provider’s stock valued at $7,669,000 after acquiring an additional 5,290 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in S&T Bancorp by 2.0% during the 1st quarter. Empowered Funds LLC now owns 139,621 shares of the financial services provider’s stock worth $5,173,000 after purchasing an additional 2,767 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Stock Performance

Shares of STBA opened at $39.27 on Wednesday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 11.32 and a beta of 0.98. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $37.61 and its two-hundred day moving average is $37.70. S&T Bancorp, Inc. has a 52-week low of $30.84 and a 52-week high of $45.46.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. The business had revenue of $103.61 million during the quarter. S&T Bancorp had a net margin of 23.72% and a return on equity of 9.32%. Analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Thursday, November 13th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 13th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 3.7%. S&T Bancorp’s dividend payout ratio is 41.50%.

Insider Activity at S&T Bancorp

In other news, Director Jeffrey D. Grube purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average cost of $36.55 per share, for a total transaction of $91,375.00. Following the completion of the purchase, the director owned 44,985 shares of the company’s stock, valued at approximately $1,644,201.75. This trade represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Weiss Ratings downgraded S&T Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Piper Sandler lowered 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 research report on Monday, October 27th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.00.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.