S&T Bancorp (NASDAQ:STBA) Reaches New 1-Year High – Time to Buy?

S&T Bancorp, Inc. (NASDAQ:STBA) reached a new 52-week high on Wednesday . The company traded as high as $48.70 and last traded at $48.4870, with a volume of 37745 shares traded. The stock had previously closed at $48.16.

Analyst Upgrades and Downgrades

STBA has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Finally, Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.40.

S&T Bancorp Price Performance

The firm has a market cap of $1.76 billion, a P/E ratio of 13.74 and a beta of 0.85. The firm’s fifty day simple moving average is $45.17 and its 200 day simple moving average is $42.99. 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 (NASDAQ:STBA) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.07. The firm had revenue of $102.08 million for the quarter, compared to analysts’ expectations of $103.62 million. S&T Bancorp had a return on equity of 9.35% and a net margin of 23.71%. As a group, analysts forecast that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend 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 is presently 41.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STBA. Costello Asset Management INC purchased a new stake in S&T Bancorp during the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC grew its stake in shares of S&T Bancorp by 5,223.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after buying an additional 888 shares in the last quarter. Torren Management LLC purchased a new position in shares of S&T Bancorp in the 4th quarter worth $37,000. Smithfield Trust Co bought a new stake in shares of S&T Bancorp in the 4th quarter worth about $40,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of S&T Bancorp in the 3rd quarter worth about $50,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

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.