Hennion & Walsh Asset Management Inc. Takes $225,000 Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Hennion & Walsh Asset Management Inc. bought a new stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,017 shares of the financial services provider’s stock, valued at approximately $225,000.

Other hedge funds have also recently modified their holdings of the company. Trexquant Investment LP bought a new position in shares of S&T Bancorp during the fourth quarter valued at approximately $812,000. Norges Bank purchased a new stake in shares of S&T Bancorp in the fourth quarter valued at approximately $9,055,000. Hsbc Holdings PLC purchased a new stake in shares of S&T Bancorp in the fourth quarter valued at approximately $1,699,000. Graham Capital Management L.P. boosted its holdings in shares of S&T Bancorp by 83.0% in the third quarter. Graham Capital Management L.P. now owns 14,548 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 6,600 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of S&T Bancorp by 5.7% in the fourth quarter. Diversified Trust Co now owns 10,786 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 584 shares during the period. Institutional investors own 65.22% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $32.83 on Friday. The business’s fifty day simple moving average is $31.76 and its 200-day simple moving average is $31.82. The company has a market cap of $1.26 billion, a PE ratio of 9.30 and a beta of 0.81. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a 12-month low of $24.51 and a 12-month high of $36.28.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $96.31 million for the quarter, compared to the consensus estimate of $96.30 million. S&T Bancorp had a return on equity of 10.86% and a net margin of 24.68%. Analysts expect that S&T Bancorp, Inc. will post 3.02 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Wednesday, May 8th. S&T Bancorp’s payout ratio is 37.39%.

Insider Activity at S&T Bancorp

In related news, Director William J. Hieb sold 11,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $31.05, for a total value of $341,550.00. Following the transaction, the director now directly owns 31,770 shares of the company’s stock, valued at approximately $986,458.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.38% of the stock is owned by insiders.

S&T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.