BlackRock Inc. Acquires 297,656 Shares of S & T Bancorp Inc (STBA)

BlackRock Inc. grew its holdings in S & T Bancorp Inc (NASDAQ:STBA) by 6.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,843,292 shares of the financial services provider’s stock after buying an additional 297,656 shares during the period. BlackRock Inc. owned 0.14% of S & T Bancorp worth $209,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of S & T Bancorp in the first quarter valued at about $142,000. Hapanowicz & Associates Financial Services Inc purchased a new stake in shares of S & T Bancorp in the second quarter valued at about $206,000. Amalgamated Bank purchased a new stake in shares of S & T Bancorp in the second quarter valued at about $217,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of S & T Bancorp in the first quarter valued at about $252,000. Finally, Profund Advisors LLC grew its holdings in shares of S & T Bancorp by 28.3% in the first quarter. Profund Advisors LLC now owns 6,932 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 1,528 shares during the period. Institutional investors and hedge funds own 60.40% of the company’s stock.

Shares of STBA stock opened at $45.61 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 18.47 and a beta of 0.62. S & T Bancorp Inc has a 1-year low of $37.79 and a 1-year high of $47.77.

S & T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, July 19th. The financial services provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $70.65 million during the quarter, compared to analyst estimates of $70.06 million. S & T Bancorp had a net margin of 24.39% and a return on equity of 10.41%. equities research analysts anticipate that S & T Bancorp Inc will post 2.88 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of S & T Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. DA Davidson assumed coverage on shares of S & T Bancorp in a report on Thursday, August 23rd. They issued a “buy” rating and a $54.00 price objective for the company. ValuEngine lowered shares of S & T Bancorp from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Zacks Investment Research raised shares of S & T Bancorp from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, August 7th. Finally, Boenning Scattergood reissued a “hold” rating on shares of S & T Bancorp in a report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $47.13.

In other S & T Bancorp news, Director Frank W. Jones sold 600 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $45.58, for a total transaction of $27,348.00. Following the completion of the transaction, the director now owns 24,387 shares of the company’s stock, valued at $1,111,559.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James C. Miller sold 5,000 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $46.44, for a total transaction of $232,200.00. Following the transaction, the director now directly owns 39,948 shares of the company’s stock, valued at approximately $1,855,185.12. The disclosure for this sale can be found here. Company insiders own 2.71% of the company’s stock.

About S & T Bancorp

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.

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

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