The Manufacturers Life Insurance Company Grows Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

The Manufacturers Life Insurance Company grew its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,436 shares of the financial services provider’s stock after buying an additional 498 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of S&T Bancorp worth $649,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in S&T Bancorp by 119.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,336 shares of the financial services provider’s stock worth $765,000 after acquiring an additional 13,230 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of S&T Bancorp by 23.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 161,151 shares of the financial services provider’s stock worth $5,381,000 after purchasing an additional 30,945 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of S&T Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock valued at $1,073,000 after purchasing an additional 432 shares in the last quarter. Earnest Partners LLC increased its holdings in S&T Bancorp by 569.7% during the first quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock valued at $7,704,000 after buying an additional 204,281 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in S&T Bancorp by 33.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,683 shares of the financial services provider’s stock worth $984,000 after buying an additional 7,712 shares in the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STBA. DA Davidson increased their target price on S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. StockNews.com lowered S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday.

S&T Bancorp Trading Up 1.6 %

NASDAQ:STBA opened at $41.87 on Wednesday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.86 and a beta of 0.79. S&T Bancorp, Inc. has a 52 week low of $24.51 and a 52 week high of $45.79. 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 firm has a 50 day moving average of $41.27 and a 200 day moving average of $36.23.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, beating 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 analyst estimates of $95.85 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.3 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

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

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.