State Board of Administration of Florida Retirement System Maintains Holdings in S&T Bancorp, Inc. (STBA)

State Board of Administration of Florida Retirement System held its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,010 shares of the financial services provider’s stock at the end of the 2nd quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of S&T Bancorp worth $1,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of S&T Bancorp by 48,472.8% in the first quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock valued at $149,072,000 after purchasing an additional 4,299,536 shares during the period. Aperio Group LLC boosted its stake in shares of S&T Bancorp by 59.7% in the second quarter. Aperio Group LLC now owns 18,646 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 6,971 shares during the period. Texas Permanent School Fund boosted its stake in shares of S&T Bancorp by 1.0% in the second quarter. Texas Permanent School Fund now owns 25,540 shares of the financial services provider’s stock valued at $916,000 after purchasing an additional 263 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of S&T Bancorp by 83.3% in the first quarter. Advisors Asset Management Inc. now owns 15,451 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 7,021 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of S&T Bancorp by 3.3% in the first quarter. Vanguard Group Inc. now owns 3,189,834 shares of the financial services provider’s stock valued at $110,368,000 after purchasing an additional 103,048 shares during the period. Institutional investors own 53.82% of the company’s stock.

Several brokerages have recently weighed in on STBA. BidaskClub downgraded shares of S&T Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.50 target price on shares of S&T Bancorp in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of S&T Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. S&T Bancorp presently has a consensus rating of “Hold” and an average target price of $37.83.

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In other news, Director Robert Edward Kane purchased 1,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were bought at an average price of $35.10 per share, with a total value of $35,100.00. Following the completion of the transaction, the director now directly owns 1,997 shares in the company, valued at approximately $70,094.70. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas J. Sposito II sold 1,250 shares of S&T Bancorp stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $35.29, for a total transaction of $44,112.50. Following the completion of the transaction, the insider now directly owns 25,488 shares in the company, valued at approximately $899,471.52. The disclosure for this sale can be found here. In the last three months, insiders sold 6,739 shares of company stock worth $239,098. Insiders own 2.71% of the company’s stock.

S&T Bancorp, Inc. (STBA) opened at 37.68 on Wednesday. The stock has a 50 day moving average of $36.12 and a 200 day moving average of $35.51. The stock has a market capitalization of $1.32 billion, a P/E ratio of 16.56 and a beta of 0.84. S&T Bancorp, Inc. has a 52 week low of $25.85 and a 52 week high of $39.84.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.09. S&T Bancorp had a net margin of 26.52% and a return on equity of 9.30%. The company had revenue of $72.84 million for the quarter, compared to analyst estimates of $71.98 million. During the same quarter last year, the firm posted $0.49 earnings per share. On average, equities research analysts predict that S&T Bancorp, Inc. will post $2.30 earnings per share for the current fiscal year.

S&T Bancorp Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.

Institutional Ownership by Quarter for S&T Bancorp (NASDAQ:STBA)

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