S&T Bancorp (NASDAQ:STBA) Reaches New 12-Month High – Here’s Why

S&T Bancorp, Inc. (NASDAQ:STBA)’s share price hit a new 52-week high during trading on Thursday . The company 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.

Analyst Upgrades and Downgrades

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

S&T Bancorp Stock Down 1.6%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.80 billion, a P/E ratio of 14.00 and a beta of 0.84. The company has a 50-day moving average of $46.84 and a two-hundred day moving average of $43.84.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $102.08 million during the quarter, compared to the consensus estimate of $103.62 million. S&T Bancorp had a return on equity of 9.35% and a net margin of 23.71%. On average, research analysts predict that S&T Bancorp, Inc. will post 3.75 EPS for the current year.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Thursday, May 14th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. S&T Bancorp’s dividend payout ratio (DPR) is 41.46%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in S&T Bancorp by 16.4% during the second quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 285 shares in the last quarter. Empowered Funds LLC increased its stake in shares of S&T Bancorp by 4.8% during the first 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 lifted its holdings in shares of S&T Bancorp by 20.7% during the first 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 during the last quarter. Royal Bank of Canada lifted its holdings in shares of S&T Bancorp by 5.0% during the first 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 lifted its holdings in shares of S&T Bancorp by 220.3% during the first 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 hedge funds and other institutional investors.

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.