S&T Bancorp (NASDAQ:STBA) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

S&T Bancorp (NASDAQ:STBA) posted its quarterly earnings data on Thursday. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07, FiscalAI reports. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. The company had revenue of $102.08 million for the quarter, compared to analysts’ expectations of $103.62 million.

S&T Bancorp Trading Down 0.1%

STBA stock traded down $0.06 during trading on Thursday, hitting $43.35. 25,728 shares of the company traded hands, compared to its average volume of 234,061. The company has a 50-day moving average of $42.39 and a 200-day moving average of $40.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. S&T Bancorp has a 1 year low of $34.01 and a 1 year high of $44.91. The firm has a market capitalization of $1.59 billion, a PE ratio of 12.37 and a beta of 0.86.

S&T Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were issued a $0.36 dividend. The ex-dividend date was Thursday, February 12th. This represents a $1.44 annualized dividend and a dividend yield of 3.3%. S&T Bancorp’s payout ratio is currently 41.14%.

S&T Bancorp announced that its board has authorized a share repurchase plan on Thursday, January 22nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of S&T Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in shares of S&T Bancorp by 33.5% during the third quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock valued at $17,260,000 after purchasing an additional 115,333 shares during the period. Jane Street Group LLC bought a new stake in S&T Bancorp during the 1st quarter valued at $4,211,000. Qube Research & Technologies Ltd boosted its position in S&T Bancorp by 58.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock valued at $8,820,000 after buying an additional 86,125 shares during the period. State Street Corp boosted its position in S&T Bancorp by 3.7% during the 4th quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock valued at $67,815,000 after buying an additional 61,800 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in S&T Bancorp by 41.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 200,311 shares of the financial services provider’s stock worth $7,882,000 after acquiring an additional 58,661 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

Analysts Set New Price Targets

STBA has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Zacks Research downgraded shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. DA Davidson assumed coverage on shares of S&T Bancorp in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 target price for the company. Hovde Group increased 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, Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.40.

About S&T Bancorp

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.