Charles Schwab Investment Management Inc. Buys 81,469 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Charles Schwab Investment Management Inc. raised its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,574,596 shares of the financial services provider’s stock after acquiring an additional 81,469 shares during the period. Charles Schwab Investment Management Inc. owned about 4.12% of S&T Bancorp worth $58,339,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in S&T Bancorp by 824.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,088 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of S&T Bancorp by 41.9% during the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 520 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of S&T Bancorp by 7.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 367 shares during the period. US Bancorp DE raised its stake in shares of S&T Bancorp by 1,015.1% during the 1st quarter. US Bancorp DE now owns 5,754 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 5,238 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of S&T Bancorp during the 4th quarter worth $230,000. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Trading Down 2.3%

Shares of S&T Bancorp stock opened at $37.18 on Friday. S&T Bancorp, Inc. has a 52-week low of $30.84 and a 52-week high of $45.46. The stock’s 50-day simple moving average is $37.78 and its 200 day simple moving average is $37.60. The stock has a market capitalization of $1.43 billion, a P/E ratio of 10.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. The business had revenue of $100.07 million for the quarter, compared to analysts’ expectations of $99.30 million. As a group, research analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Thursday, August 14th. S&T Bancorp’s payout ratio is presently 39.88%.

Wall Street Analysts Forecast Growth

STBA has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on S&T Bancorp in a research note on Friday, July 18th. They set a “neutral” rating and a $42.00 target price on the stock. Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Hovde Group initiated coverage on S&T Bancorp in a research note on Friday, June 27th. They set a “market perform” rating and a $41.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating on the stock in a research note 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.