Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,971 shares of the financial services provider’s stock after purchasing an additional 1,661 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.06% of S&T Bancorp worth $768,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in S&T Bancorp by 6.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 9,104 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 512 shares during the last quarter. Diversified Trust Co boosted its stake in shares of S&T Bancorp by 5.7% in the fourth quarter. Diversified Trust Co now owns 10,786 shares of the financial services provider’s stock worth $360,000 after buying an additional 584 shares during the last quarter. Swiss National Bank boosted its stake in shares of S&T Bancorp by 0.8% in the third quarter. Swiss National Bank now owns 85,700 shares of the financial services provider’s stock worth $2,321,000 after buying an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of S&T Bancorp by 17.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,508 shares of the financial services provider’s stock worth $149,000 after buying an additional 835 shares during the last quarter. Finally, Brookstone Capital Management boosted its stake in shares of S&T Bancorp by 3.6% in the third quarter. Brookstone Capital Management now owns 54,942 shares of the financial services provider’s stock worth $1,435,000 after buying an additional 1,929 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd.

S&T Bancorp Stock Up 0.4 %

Shares of STBA opened at $31.27 on Thursday. S&T Bancorp, Inc. has a 52 week low of $24.51 and a 52 week high of $36.28. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 8.86 and a beta of 0.77. The stock’s 50-day moving average price is $30.96 and its 200-day moving average price is $30.52.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. The company had revenue of $103.17 million during the quarter, compared to analysts’ expectations of $100.10 million. S&T Bancorp had a return on equity of 10.86% and a net margin of 24.68%. On average, sell-side analysts predict that S&T Bancorp, Inc. will post 3 EPS for the current year.

S&T Bancorp Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.