Mirae Asset Global Investments Co. Ltd. Has $1.07 Million Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 18.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,690 shares of the financial services provider’s stock after purchasing an additional 4,374 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in S&T Bancorp were worth $1,065,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in S&T Bancorp by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock worth $649,000 after buying an additional 498 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of S&T Bancorp by 80.8% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 526 shares during the period. Sapient Capital LLC acquired a new position in shares of S&T Bancorp during the third quarter valued at $223,000. International Assets Investment Management LLC increased its position in S&T Bancorp by 4,095.0% in the third quarter. International Assets Investment Management LLC now owns 839 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 819 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in S&T Bancorp by 2.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,103 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 326 shares during the period. 65.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

S&T Bancorp Stock Performance

Shares of S&T Bancorp stock opened at $40.97 on Wednesday. The firm has a fifty day moving average of $39.19 and a two-hundred day moving average of $40.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 12.01 and a beta of 0.84. S&T Bancorp, Inc. has a 52 week low of $28.83 and a 52 week high of $45.79.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, January 30th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.08. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. As a group, equities research analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, February 13th. S&T Bancorp’s payout ratio is presently 39.88%.

About S&T Bancorp

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.