S&T Bancorp (NASDAQ:STBA) Director Sells $272,084.40 in Stock

S&T Bancorp, Inc. (NASDAQ:STBA) Director William Hieb sold 5,310 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $51.24, for a total transaction of $272,084.40. Following the completion of the transaction, the director directly owned 29,323 shares of the company’s stock, valued at approximately $1,502,510.52. This trade represents a 15.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

S&T Bancorp Stock Up 0.2%

STBA stock traded up $0.09 during midday trading on Thursday, hitting $51.56. The company’s stock had a trading volume of 223,949 shares, compared to its average volume of 253,449. The company’s fifty day moving average price is $49.39 and its 200 day moving average price is $45.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. S&T Bancorp, Inc. has a twelve month low of $34.38 and a twelve month high of $53.50. The stock has a market capitalization of $1.82 billion, a P/E ratio of 13.71 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. The company had revenue of $105.24 million during the quarter, compared to analysts’ expectations of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. As a group, equities research analysts predict that S&T Bancorp, Inc. will post 3.93 EPS for the current year.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.48 annualized dividend and a dividend yield of 2.9%. S&T Bancorp’s payout ratio is 39.36%.

S&T Bancorp declared that its board has authorized a stock buyback program on Thursday, July 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

STBA has been the subject of a number of recent analyst reports. DA Davidson increased their price target on shares of S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research note on Friday, July 24th. Zacks Research raised shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Hovde Group reiterated 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. Finally, Keefe, Bruyette & Woods lifted their price target on S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.60.

Hedge Funds Weigh In On S&T Bancorp

Several institutional investors and hedge funds have recently modified their holdings of STBA. Costello Asset Management INC bought a new position in shares of S&T Bancorp in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of S&T Bancorp by 5,223.5% during the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 888 shares during the period. Torren Management LLC acquired a new position in shares of S&T Bancorp in the fourth quarter valued at approximately $37,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of S&T Bancorp in the second quarter valued at approximately $37,000. Finally, Smithfield Trust Co bought a new position in shares of S&T Bancorp during the fourth quarter worth approximately $40,000. 65.22% of the stock is currently 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.