Municipal Employees Retirement System of Michigan Has $520,000 Stake in S&T Bancorp, Inc. (STBA)

Municipal Employees Retirement System of Michigan grew its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 59.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,130 shares of the financial services provider’s stock after purchasing an additional 4,890 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in S&T Bancorp were worth $520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of STBA. Teachers Advisors LLC lifted its holdings in S&T Bancorp by 3.4% in the first quarter. Teachers Advisors LLC now owns 61,942 shares of the financial services provider’s stock valued at $2,143,000 after acquiring an additional 2,041 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in S&T Bancorp by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 138,256 shares of the financial services provider’s stock valued at $4,784,000 after acquiring an additional 6,993 shares during the last quarter. Bank of America Corp DE lifted its holdings in S&T Bancorp by 63.5% in the first quarter. Bank of America Corp DE now owns 70,536 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 27,385 shares during the last quarter. AQR Capital Management LLC lifted its holdings in S&T Bancorp by 13.4% in the first quarter. AQR Capital Management LLC now owns 32,547 shares of the financial services provider’s stock valued at $1,126,000 after acquiring an additional 3,844 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in S&T Bancorp by 59.7% in the second quarter. Aperio Group LLC now owns 18,646 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 6,971 shares during the last quarter. Institutional investors and hedge funds own 55.18% of the company’s stock.

S&T Bancorp, Inc. (STBA) opened at $41.55 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.96 and a quick ratio of 0.95. S&T Bancorp, Inc. has a twelve month low of $31.72 and a twelve month high of $43.17. The company has a market capitalization of $1,447.09, a P/E ratio of 17.75 and a beta of 0.86.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. S&T Bancorp had a return on equity of 9.41% and a net margin of 26.44%. The company had revenue of $71.01 million for the quarter, compared to analysts’ expectations of $73.70 million. During the same period in the prior year, the firm earned $0.59 earnings per share. equities analysts anticipate that S&T Bancorp, Inc. will post 2.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.12%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, November 1st. S&T Bancorp’s dividend payout ratio is 37.77%.

In other S&T Bancorp news, Director Frank W. Jones sold 850 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $41.32, for a total transaction of $35,122.00. Following the transaction, the director now directly owns 24,215 shares in the company, valued at $1,000,563.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Krieger sold 1,201 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $41.78, for a total value of $50,177.78. Following the transaction, the director now owns 18,045 shares in the company, valued at $753,920.10. The disclosure for this sale can be found here. 2.71% of the stock is owned by corporate insiders.

A number of research analysts recently commented on the company. BidaskClub upgraded S&T Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 price objective on shares of S&T Bancorp in a report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “hold” rating and issued a $36.50 price objective on shares of S&T Bancorp in a report on Thursday, October 19th. Zacks Investment Research upgraded S&T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Tuesday, October 24th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of S&T Bancorp in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.33.

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S&T Bancorp Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.

Institutional Ownership by Quarter for S&T Bancorp (NASDAQ:STBA)

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