AQR Capital Management LLC Boosts Stock Position in S&T Bancorp, Inc. (NASDAQ:STBA)

AQR Capital Management LLC grew its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 37.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,280 shares of the financial services provider’s stock after buying an additional 9,384 shares during the period. AQR Capital Management LLC’s holdings in S&T Bancorp were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Louisiana State Employees Retirement System raised its position in shares of S&T Bancorp by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after acquiring an additional 300 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in S&T Bancorp by 1.3% in 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 during the last quarter. HBK Sorce Advisory LLC increased its stake in S&T Bancorp by 4.2% in the second quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 584 shares during the last quarter. Legato Capital Management LLC lifted its position in shares of S&T Bancorp by 2.2% during the 2nd quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock worth $1,067,000 after buying an additional 703 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of S&T Bancorp by 8.4% during the 2nd quarter. Diversified Trust Co now owns 11,688 shares of the financial services provider’s stock worth $390,000 after buying an additional 902 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STBA has been the topic of several research analyst reports. DA Davidson lifted their price target on shares of S&T Bancorp from $32.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. StockNews.com lowered S&T Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd.

S&T Bancorp Stock Up 3.7 %

STBA stock opened at $40.79 on Friday. S&T Bancorp, Inc. has a 12 month low of $24.51 and a 12 month high of $45.79. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 11.56 and a beta of 0.79. The company has a fifty day moving average price of $41.22 and a 200 day moving average price of $35.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping 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 company had revenue of $142.07 million during the quarter, compared to analysts’ expectations of $95.85 million. During the same period last year, the firm earned $0.89 EPS. Sell-side analysts expect that S&T Bancorp, Inc. will post 3.3 earnings per share for the current year.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.24%. S&T Bancorp’s payout ratio is currently 37.39%.

S&T Bancorp 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.