KLP Kapitalforvaltning AS Acquires New Position in S&T Bancorp, Inc. (NASDAQ:STBA)

KLP Kapitalforvaltning AS purchased a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,200 shares of the financial services provider’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in S&T Bancorp by 48.6% in the fourth quarter. Versant Capital Management Inc now owns 926 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 303 shares during the last quarter. Stifel Financial Corp boosted its holdings in S&T Bancorp by 2.3% in the third quarter. Stifel Financial Corp now owns 13,646 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 303 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in S&T Bancorp by 67.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 502 shares during the period. Swiss National Bank increased its holdings in shares of S&T Bancorp by 0.8% during the 4th quarter. Swiss National Bank now owns 75,200 shares of the financial services provider’s stock valued at $2,874,000 after purchasing an additional 600 shares in the last quarter. Finally, Inspire Investing LLC raised its position in shares of S&T Bancorp by 6.8% in the fourth quarter. Inspire Investing LLC now owns 10,493 shares of the financial services provider’s stock worth $401,000 after acquiring an additional 671 shares during the period. 65.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bhaskar Ramachandran bought 764 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $39.25 per share, with a total value of $29,987.00. Following the completion of the transaction, the director now directly owns 1,251 shares in the company, valued at $49,101.75. This trade represents a 156.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.38% of the company’s stock.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $33.79 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.29 billion, a P/E ratio of 9.91 and a beta of 0.80. The business’s 50 day moving average is $38.67 and its two-hundred day moving average is $39.70. S&T Bancorp, Inc. has a 12-month low of $28.83 and a 12-month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. S&T Bancorp had a net margin of 23.24% and a return on equity of 9.77%. Analysts expect that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 4.02%. S&T Bancorp’s dividend 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.