S&T Bancorp, Inc. (NASDAQ:STBA) Given Consensus Recommendation of “Hold” by Analysts

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $41.00.

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating in a report on Monday. Finally, Piper Sandler dropped their price objective on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, October 27th.

S&T Bancorp Stock Performance

Shares of STBA opened at $41.08 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $40.32 and its two-hundred day simple moving average is $38.72. S&T Bancorp has a 12 month low of $30.84 and a 12 month high of $43.90. The stock has a market capitalization of $1.57 billion, a P/E ratio of 11.74 and a beta of 0.92.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 $105.29 million for the quarter, compared to the consensus estimate of $103.46 million. As a group, analysts predict that S&T Bancorp will post 3.05 EPS for the current year.

S&T Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 13th were paid a dividend of $0.36 per share. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.44 dividend on an annualized basis and a yield of 3.5%. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.14%.

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

Insider Buying and Selling

In other S&T Bancorp news, Director Jeffrey D. Grube acquired 2,500 shares of the stock in a transaction on Tuesday, October 28th. The shares were purchased at an average price of $36.55 per share, for a total transaction of $91,375.00. Following the completion of the acquisition, the director owned 44,985 shares in the company, valued at approximately $1,644,201.75. This represents a 5.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On S&T Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in 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. Versant Capital Management Inc grew its stake in S&T Bancorp by 41.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 384 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of S&T Bancorp during the 3rd quarter valued at $50,000. GAMMA Investing LLC increased its position in shares of S&T Bancorp by 26.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 316 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of S&T Bancorp during the 2nd quarter worth $91,000. 65.22% of the stock is owned by 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.