Northern Trust Corp Purchases 86,317 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Northern Trust Corp increased its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 21.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 483,413 shares of the financial services provider’s stock after purchasing an additional 86,317 shares during the period. Northern Trust Corp’s holdings in S&T Bancorp were worth $18,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of STBA. Tudor Investment Corp ET AL acquired a new stake in S&T Bancorp during the fourth quarter worth $1,799,000. Susquehanna Fundamental Investments LLC bought a new position in shares of S&T Bancorp during the 4th quarter worth about $246,000. Integrated Wealth Concepts LLC boosted its position in shares of S&T Bancorp by 20.4% during the 4th quarter. Integrated Wealth Concepts LLC now owns 82,718 shares of the financial services provider’s stock valued at $3,161,000 after acquiring an additional 14,024 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in S&T Bancorp by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,542 shares of the financial services provider’s stock valued at $1,359,000 after acquiring an additional 2,672 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in S&T Bancorp in the fourth quarter worth about $230,000. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Stock Up 0.1%

Shares of NASDAQ:STBA opened at $38.76 on Wednesday. The company’s fifty day moving average is $36.41 and its 200-day moving average is $38.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. S&T Bancorp, Inc. has a 52 week low of $29.85 and a 52 week high of $45.79. The company has a market capitalization of $1.48 billion, a PE ratio of 11.37 and a beta of 0.86.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $93.75 million for the quarter, compared to analyst estimates of $96.40 million. S&T Bancorp had a net margin of 23.24% and a return on equity of 9.77%. Equities research analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a yield of 3.51%. S&T Bancorp’s dividend payout ratio (DPR) is presently 39.19%.

Insider Buying and Selling

In related news, Director Bhaskar Ramachandran purchased 764 shares of S&T Bancorp stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $39.25 per share, for a total transaction of $29,987.00. Following the transaction, the director now directly owns 1,251 shares in the company, valued at approximately $49,101.75. This represents a 156.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their price objective on S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating on the stock in a report on Monday, April 28th.

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.