StockNews.com upgraded shares of S&T Bancorp (NASDAQ:STBA – Free Report) from a sell rating to a hold rating in a report released on Thursday morning.
Separately, 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 report on Friday, July 19th.
Check Out Our Latest Research Report on STBA
S&T Bancorp Trading Down 1.7 %
S&T Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, November 7th. S&T Bancorp’s dividend payout ratio (DPR) is currently 38.53%.
Institutional Investors Weigh In On S&T Bancorp
Several institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its position in 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 in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in S&T Bancorp by 2.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,103 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 326 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in S&T Bancorp by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock valued at $1,073,000 after acquiring an additional 432 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in S&T Bancorp by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 498 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in S&T Bancorp by 80.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 526 shares in the last quarter. 65.22% of the stock is owned by institutional investors.
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.
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