S&T Bancorp, Inc. (STBA) – What Are Researchers Thinking About This Stock?

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have earned an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $52.20.

A number of analysts have issued reports on the company. Hovde Group reaffirmed a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a report on Thursday, October 22nd. Piper Sandler upped their price objective on S&T Bancorp from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, October 26th. Finally, Raymond James Financial began coverage on S&T Bancorp in a research note on Thursday, October 1st. They issued a “market perform” rating for the company.

Insider Buying and Selling

In other news, Director William Hieb sold 11,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total value of $615,001.86. Following the completion of the transaction, the director owned 17,344 shares of the company’s stock, valued at $890,440.96. The trade was a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On S&T Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of S&T Bancorp in the 2nd quarter worth $253,047,000. Dimensional Fund Advisors LP raised its holdings in shares of S&T Bancorp by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,345,177 shares of the financial services provider’s stock worth $98,098,000 after acquiring an additional 6,583 shares in the last quarter. Bank of America Corp DE bought a new stake in S&T Bancorp in the second quarter worth approximately $29,117,000. Bank of New York Mellon Corp bought a new position in S&T Bancorp during the second quarter valued at about $17,649,000. Finally, ProShare Advisors LLC lifted its holdings in S&T Bancorp by 38.6% in the 3rd quarter. ProShare Advisors LLC now owns 203,260 shares of the financial services provider’s stock worth $9,832,000 after purchasing an additional 56,574 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Price Performance

Shares of STBA opened at $51.27 on Wednesday. S&T Bancorp has a fifty-two week low of $36.39 and a fifty-two week high of $53.50. The company has a market capitalization of $1.81 billion, a P/E ratio of 13.01 and a beta of 0.86. The business’s 50-day moving average is $49.63 and its two-hundred day moving average is $46.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.99 and a current ratio of 0.99.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. S&T Bancorp had a net margin of 25.10% and a return on equity of 10.11%. The company had revenue of $107.79 million during the quarter, compared to analysts’ expectations of $106.72 million. Research analysts predict that S&T Bancorp will post 4.06 earnings per share for the current year.

S&T Bancorp announced that its Board of Directors has approved a share buyback plan on Thursday, July 23rd that allows the company to buy back $100 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Share repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 12th. S&T Bancorp’s dividend payout ratio (DPR) is presently 37.56%.

About S&T Bancorp

S&T Bancorp, Inc is the financial holding company for S&T Bank, a community bank headquartered in Indiana, Pennsylvania. Founded in 1902, S&T Bank serves consumers, businesses, and institutions through a network of banking offices and digital channels.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing, and business loans. It also offers treasury and cash-management services designed to support business customers.

S&T Bank serves communities primarily across western Pennsylvania and eastern Ohio.