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

Mirae Asset Global Investments Co. Ltd. boosted its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 12.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,179 shares of the financial services provider’s stock after buying an additional 3,489 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in S&T Bancorp were worth $1,159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in S&T Bancorp by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider’s stock valued at $176,453,000 after buying an additional 160,453 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in S&T Bancorp by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,493,127 shares of the financial services provider’s stock valued at $57,067,000 after buying an additional 60,617 shares in the last quarter. Northern Trust Corp grew its position in S&T Bancorp by 21.7% in the 4th quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider’s stock valued at $18,476,000 after buying an additional 86,317 shares in the last quarter. Bridgeway Capital Management LLC grew its position in S&T Bancorp by 2.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 286,455 shares of the financial services provider’s stock valued at $10,948,000 after buying an additional 6,620 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in S&T Bancorp by 8.0% in the 4th quarter. ProShare Advisors LLC now owns 190,774 shares of the financial services provider’s stock valued at $7,291,000 after acquiring an additional 14,107 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Trading Up 1.2%

S&T Bancorp stock opened at $39.84 on Friday. 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 has a market cap of $1.53 billion, a price-to-earnings ratio of 11.48 and a beta of 0.89. S&T Bancorp, Inc. has a 1 year low of $30.84 and a 1 year high of $45.79. The firm’s 50 day moving average price is $37.37 and its two-hundred day moving average price is $37.56.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 23.84% and a return on equity of 9.71%. On average, research analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.34 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 3.41%. S&T Bancorp’s dividend payout ratio (DPR) is 39.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Hovde Group started coverage on shares of S&T Bancorp in a research note on Friday, June 27th. They issued a “market perform” rating and a $41.00 price objective on the stock. Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 28th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th.

S&T Bancorp 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.