Envestnet Asset Management Inc. Increases Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Envestnet Asset Management Inc. boosted its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 23.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,151 shares of the financial services provider’s stock after purchasing an additional 30,945 shares during the period. Envestnet Asset Management Inc. owned about 0.42% of S&T Bancorp worth $5,381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of S&T Bancorp by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after acquiring an additional 300 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of S&T Bancorp by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock worth $1,073,000 after acquiring an additional 432 shares during the period. HBK Sorce Advisory LLC grew its holdings in shares of S&T Bancorp by 4.2% during the 2nd quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 584 shares during the period. Legato Capital Management LLC grew its holdings in shares of S&T Bancorp by 2.2% during the 2nd quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock worth $1,067,000 after acquiring an additional 703 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of S&T Bancorp by 8.4% during the 2nd quarter. Diversified Trust Co now owns 11,688 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 902 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STBA shares. StockNews.com upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. DA Davidson boosted their price target on S&T Bancorp from $32.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th.

S&T Bancorp Stock Performance

Shares of STBA opened at $41.97 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $41.95 and its 200-day moving average price is $35.45. S&T Bancorp, Inc. has a 52 week low of $24.51 and a 52 week high of $45.79. The stock has a market cap of $1.60 billion, a P/E ratio of 11.89 and a beta of 0.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. The firm had revenue of $142.07 million for the quarter, compared to analysts’ expectations of $95.85 million. During the same period in the previous year, the firm posted $0.89 EPS. Equities research analysts anticipate that S&T Bancorp, Inc. will post 3.31 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.33 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.32 annualized dividend and a yield of 3.15%. S&T Bancorp’s dividend payout ratio (DPR) is presently 37.39%.

About S&T Bancorp

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.