Louisiana State Employees Retirement System Takes Position in S&T Bancorp, Inc. $STBA

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

Other large investors have also added to or reduced their stakes in the company. Costello Asset Management INC bought a new stake in shares of S&T Bancorp in the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its position in 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 valued at $34,000 after acquiring an additional 888 shares during the last quarter. Torren Management LLC acquired a new stake in S&T Bancorp in the fourth quarter valued at approximately $37,000. Smithfield Trust Co acquired a new stake in S&T Bancorp in the fourth quarter valued at approximately $40,000. Finally, CIBC Private Wealth Group LLC purchased a new position in S&T Bancorp in the third quarter worth $50,000. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Price Performance

Shares of STBA stock traded down $0.14 during mid-day trading on Tuesday, hitting $49.23. 6,615 shares of the stock were exchanged, compared to its average volume of 248,347. S&T Bancorp, Inc. has a 52-week low of $34.01 and a 52-week high of $50.40. 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 company has a market cap of $1.77 billion, a PE ratio of 13.77 and a beta of 0.84. The firm has a fifty day moving average of $45.95 and a 200 day moving average of $43.36.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The company had revenue of $102.08 million during the quarter, compared to analysts’ expectations of $103.62 million. S&T Bancorp had a return on equity of 9.35% and a net margin of 23.71%. Research analysts anticipate that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.

S&T Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were given a dividend of $0.37 per share. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, May 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.0%. S&T Bancorp’s payout ratio is 41.46%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STBA. Piper Sandler increased their price objective on S&T Bancorp from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.60.

S&T Bancorp 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.