Schwab Charles Investment Management Inc. Has $6.89 Million Position in S & T Bancorp Inc (STBA)

Schwab Charles Investment Management Inc. grew its stake in shares of S & T Bancorp Inc (NASDAQ:STBA) by 11.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,946 shares of the financial services provider’s stock after buying an additional 18,232 shares during the period. Schwab Charles Investment Management Inc. owned 0.50% of S & T Bancorp worth $6,885,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of STBA. TIAA CREF Investment Management LLC raised its holdings in shares of S & T Bancorp by 1.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 101,339 shares of the financial services provider’s stock worth $3,634,000 after acquiring an additional 1,407 shares in the last quarter. Mutual of America Capital Management LLC grew its position in S & T Bancorp by 80.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 88,471 shares of the financial services provider’s stock valued at $3,502,000 after acquiring an additional 39,400 shares during the last quarter. Prudential Financial Inc. grew its position in S & T Bancorp by 7.1% in the 3rd quarter. Prudential Financial Inc. now owns 258,088 shares of the financial services provider’s stock valued at $10,215,000 after acquiring an additional 17,050 shares during the last quarter. Royal Bank of Canada grew its position in S & T Bancorp by 55.0% in the 2nd quarter. Royal Bank of Canada now owns 19,443 shares of the financial services provider’s stock valued at $697,000 after acquiring an additional 6,898 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in S & T Bancorp by 2.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 287,660 shares of the financial services provider’s stock valued at $11,385,000 after acquiring an additional 8,119 shares during the last quarter. 55.18% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Frank W. Jones sold 850 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $41.32, for a total value of $35,122.00. Following the transaction, the director now owns 24,215 shares in the company, valued at $1,000,563.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James C. Miller sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $39.56, for a total value of $197,800.00. Following the completion of the transaction, the director now owns 44,176 shares in the company, valued at approximately $1,747,602.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,051 shares of company stock worth $485,000. 2.71% of the stock is owned by corporate insiders.

Several brokerages have weighed in on STBA. Zacks Investment Research upgraded S & T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, October 24th. BidaskClub cut S & T Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $41.50 price objective on shares of S & T Bancorp in a research note on Friday, October 20th. Boenning Scattergood restated a “hold” rating on shares of S & T Bancorp in a research note on Friday, October 20th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $36.50 price target on shares of S & T Bancorp in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. S & T Bancorp has a consensus rating of “Hold” and an average price target of $43.50.

S & T Bancorp Inc (NASDAQ STBA) opened at $41.86 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1,455.83, a PE ratio of 17.86 and a beta of 0.86. S & T Bancorp Inc has a 1-year low of $31.72 and a 1-year high of $43.17.

S & T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. The firm had revenue of $71.01 million for the quarter, compared to analyst estimates of $73.70 million. S & T Bancorp had a return on equity of 9.41% and a net margin of 26.44%. During the same period last year, the company earned $0.59 earnings per share. sell-side analysts anticipate that S & T Bancorp Inc will post 2.37 EPS for the current fiscal year.

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About S & T Bancorp

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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