AQR Capital Management LLC Increases Position in S&T Bancorp, Inc. (NASDAQ:STBA)

AQR Capital Management LLC grew its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 37.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,280 shares of the financial services provider’s stock after purchasing an additional 9,384 shares during the quarter. AQR Capital Management LLC owned about 0.09% of S&T Bancorp worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its position in S&T Bancorp by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after buying an additional 300 shares in the last quarter. Texas Permanent School Fund Corp raised 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 boosted its position 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 valued at $486,000 after acquiring an additional 584 shares during the last quarter. Legato Capital Management LLC grew its holdings in shares of S&T Bancorp by 2.2% in the second quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 703 shares during the period. Finally, Diversified Trust Co increased its position in S&T Bancorp by 8.4% during the second quarter. Diversified Trust Co now owns 11,688 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 902 shares during the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

S&T Bancorp Stock Up 3.7 %

Shares of NASDAQ:STBA opened at $40.79 on Friday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 11.56 and a beta of 0.79. S&T Bancorp, Inc. has a 12-month low of $24.51 and a 12-month high of $45.79. The business has a 50-day moving average price of $41.22 and a 200 day moving average price of $35.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. The business had revenue of $142.07 million during the quarter, compared to analysts’ expectations of $95.85 million. During the same period last year, the business earned $0.89 earnings per share. Sell-side analysts expect that S&T Bancorp, Inc. will post 3.3 EPS for the current year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Thursday, August 8th. S&T Bancorp’s dividend payout ratio (DPR) is 37.39%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. DA Davidson boosted their target price on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 19th. StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd.

S&T Bancorp 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.