S&T Bancorp (NASDAQ:STBA) Research Coverage Started at DA Davidson

DA Davidson initiated coverage on shares of S&T Bancorp (NASDAQ:STBA) in a report issued on Wednesday morning, MarketBeat reports. The firm issued a neutral rating and a $47.00 price target on the financial services provider’s stock.

Several other equities analysts also recently weighed in on STBA. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Hovde Group upped their target price on S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Finally, Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.40.

S&T Bancorp Stock Performance

NASDAQ STBA opened at $41.81 on Wednesday. The business has a 50 day moving average price of $41.88 and a 200 day moving average price of $39.69. The company has a market capitalization of $1.60 billion, a P/E ratio of 11.95 and a beta of 0.93. S&T Bancorp has a 1-year low of $30.84 and a 1-year high of $44.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The company had revenue of $105.90 million for the quarter, compared to analyst estimates of $103.46 million. Sell-side analysts expect that S&T Bancorp will post 3.05 EPS for the current fiscal year.

S&T Bancorp declared that its board has authorized a stock repurchase program on Thursday, January 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

S&T Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were paid a $0.36 dividend. The ex-dividend date was Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.4%. S&T Bancorp’s payout ratio is presently 41.14%.

Hedge Funds Weigh In On S&T Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of STBA. Royal Bank of Canada increased its stake in S&T Bancorp by 10.1% during the first quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock valued at $487,000 after acquiring an additional 1,206 shares during the period. AQR Capital Management LLC increased its holdings in shares of S&T Bancorp by 54.9% during the first quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider’s stock worth $1,339,000 after buying an additional 12,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in S&T Bancorp by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider’s stock valued at $843,000 after purchasing an additional 1,086 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of S&T Bancorp by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,837 shares of the financial services provider’s stock valued at $3,884,000 after buying an additional 7,286 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of S&T Bancorp in the first quarter worth about $4,211,000. Institutional investors own 65.22% of the company’s stock.

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.