Allegheny Financial Group LTD Takes Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Allegheny Financial Group LTD acquired a new position in S&T Bancorp, Inc. (NASDAQ:STBA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,196 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in S&T Bancorp during the 2nd quarter worth about $53,000. Panagora Asset Management Inc. boosted its stake in shares of S&T Bancorp by 3.0% during the second quarter. Panagora Asset Management Inc. now owns 227,271 shares of the financial services provider’s stock valued at $7,589,000 after purchasing an additional 6,518 shares in the last quarter. Legato Capital Management LLC increased its holdings in S&T Bancorp by 2.2% during 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 buying an additional 703 shares during the period. Bank of New York Mellon Corp boosted its position in S&T Bancorp by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock valued at $15,638,000 after acquiring an additional 4,126 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of S&T Bancorp by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock valued at $641,000 after acquiring an additional 300 shares during the period. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at S&T Bancorp

In related news, Director William J. Hieb sold 11,000 shares of S&T Bancorp stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $31.05, for a total transaction of $341,550.00. Following the completion of the transaction, the director now directly owns 31,770 shares in the company, valued at $986,458.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.38% of the stock is owned by corporate insiders.

S&T Bancorp Price Performance

NASDAQ STBA opened at $42.58 on Wednesday. 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 firm has a market capitalization of $1.63 billion, a P/E ratio of 12.06 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 firm’s fifty day simple moving average is $39.37 and its two-hundred day simple moving average is $34.08.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.75 by $0.14. The firm had revenue of $142.07 million during the quarter, compared to analyst estimates of $95.85 million. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. During the same period last year, the firm posted $0.89 EPS. Analysts forecast that S&T Bancorp, Inc. will post 3.31 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.10%. S&T Bancorp’s dividend payout ratio (DPR) is presently 37.39%.

Wall Street Analyst Weigh In

STBA has been the subject of a number of analyst reports. StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. DA Davidson increased their price target on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 19th.

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.