Stifel Financial Corp Grows Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Stifel Financial Corp raised its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,509 shares of the financial services provider’s stock after purchasing an additional 863 shares during the quarter. Stifel Financial Corp’s holdings in S&T Bancorp were worth $555,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Sterling Capital Management LLC increased its holdings in shares of 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 worth $47,000 after buying an additional 1,088 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in S&T Bancorp by 67.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 502 shares during the last quarter. KBC Group NV raised its holdings in shares of S&T Bancorp by 55.0% in the 4th quarter. KBC Group NV now owns 2,324 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 825 shares during the period. CoreFirst Bank & Trust purchased a new position in shares of S&T Bancorp in the 4th quarter worth about $153,000. Finally, SG Americas Securities LLC acquired a new position in shares of S&T Bancorp in the 4th quarter valued at about $166,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their target price on shares of S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating for the company in a research report on Monday, April 28th.

Insider Buying and Selling

In related news, Director Bhaskar Ramachandran bought 764 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $39.25 per share, with a total value of $29,987.00. Following the transaction, the director now owns 1,251 shares of the company’s stock, valued at approximately $49,101.75. This trade represents a 156.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.23% of the company’s stock.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $37.63 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.44 billion, a PE ratio of 11.04 and a beta of 0.86. The company’s fifty day simple moving average is $36.41 and its 200-day simple moving average is $38.73. S&T Bancorp, Inc. has a 52 week low of $29.85 and a 52 week high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. The company had revenue of $93.75 million for the quarter, compared to analysts’ expectations of $96.40 million. As a group, equities research analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.61%. The ex-dividend date is Thursday, May 15th. S&T Bancorp’s dividend payout ratio (DPR) is 39.19%.

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.