S&T Bancorp (NASDAQ:STBA) Reaches New 12-Month High – What’s Next?

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) reached a new 52-week high on Thursday . The stock traded as high as $50.69 and last traded at $50.6960, with a volume of 45082 shares traded. The stock had previously closed at $49.33.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STBA. Piper Sandler boosted their target price on shares of S&T Bancorp from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, S&T Bancorp presently has an average rating of “Hold” and an average price target of $46.60.

S&T Bancorp Price Performance

The company’s 50-day moving average is $46.60 and its 200-day moving average is $43.72. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 14.22 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The business had revenue of $102.08 million during the quarter, compared to the consensus estimate of $103.62 million. Equities research analysts predict that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.37 per share. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.9%. S&T Bancorp’s payout ratio is presently 41.46%.

Institutional Trading of S&T Bancorp

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in S&T Bancorp by 16.4% in the second quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 285 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of S&T Bancorp by 4.8% in the 1st quarter. Empowered Funds LLC now owns 169,814 shares of the financial services provider’s stock valued at $7,103,000 after purchasing an additional 7,819 shares in the last quarter. Amundi boosted its stake in shares of S&T Bancorp by 20.7% in the 1st quarter. Amundi now owns 6,549 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 1,124 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of S&T Bancorp by 5.0% during the 1st quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 269 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of S&T Bancorp by 220.3% during the 1st quarter. Quantinno Capital Management LP now owns 67,325 shares of the financial services provider’s stock valued at $2,816,000 after purchasing an additional 46,308 shares during the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.