S&T Bancorp, Inc. (NASDAQ:STBA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

S&T Bancorp, Inc. (NASDAQ:STBA) has received an average rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $51.60.

Several brokerages recently weighed in on STBA. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research report on Friday, July 24th. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Piper Sandler lifted their price objective on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Hovde Group restated a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a research report on Monday, July 27th.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $50.64 on Tuesday. S&T Bancorp has a 52-week low of $34.38 and a 52-week high of $53.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $1.79 billion, a PE ratio of 13.47 and a beta of 0.84. The stock has a fifty day simple moving average of $50.45 and a two-hundred day simple moving average of $46.21.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The business had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. On average, analysts predict that S&T Bancorp will post 3.93 EPS for the current fiscal year.

S&T Bancorp announced that its board has authorized a share buyback program on Thursday, July 23rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 5.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.48 annualized dividend and a dividend yield of 2.9%. S&T Bancorp’s dividend payout ratio is currently 39.36%.

Insider Activity

In other news, Director William Hieb sold 11,979 shares of S&T Bancorp stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total transaction of $615,001.86. Following the completion of the sale, the director directly owned 17,344 shares in the company, valued at approximately $890,440.96. This trade represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On S&T Bancorp

Hedge funds have recently made changes to their positions in the company. Corient Private Wealth LP lifted its position in shares of S&T Bancorp by 3.2% in the 2nd quarter. Corient Private Wealth LP now owns 50,070 shares of the financial services provider’s stock worth $2,457,000 after purchasing an additional 1,575 shares during the period. Amundi raised its stake in S&T Bancorp by 4.2% in the second quarter. Amundi now owns 6,822 shares of the financial services provider’s stock worth $335,000 after buying an additional 273 shares in the last quarter. California State Teachers Retirement System raised its stake in S&T Bancorp by 5,866.9% in the second quarter. California State Teachers Retirement System now owns 2,087,863 shares of the financial services provider’s stock worth $102,472,000 after buying an additional 2,052,872 shares in the last quarter. NI Acquisitions Company LLC bought a new position in S&T Bancorp in the second quarter worth approximately $714,000. Finally, Empowered Funds LLC purchased a new stake in S&T Bancorp during the second quarter worth $8,531,000. 65.22% of the stock is currently 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.