William Hieb Sells 11,979 Shares of S&T Bancorp (NASDAQ:STBA) Stock

S&T Bancorp, Inc. (NASDAQ:STBA) Director William Hieb sold 11,979 shares of the company’s stock in a transaction dated 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 transaction, the director owned 17,344 shares in the company, valued at $890,440.96. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

S&T Bancorp Stock Performance

Shares of NASDAQ:STBA opened at $51.14 on Friday. The firm’s 50 day simple moving average is $49.62 and its 200-day simple moving average is $45.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. S&T Bancorp, Inc. has a one year low of $34.38 and a one year high of $53.50. The firm has a market cap of $1.80 billion, a PE ratio of 13.60 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results 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. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%.The firm had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. As a group, equities analysts predict that S&T Bancorp, Inc. will post 3.93 EPS for the current year.

S&T Bancorp announced that its Board of Directors has authorized a share buyback plan on Thursday, July 23rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 5.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

S&T Bancorp Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.9%. S&T Bancorp’s payout ratio is 39.36%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research note on Friday, July 24th. Hovde Group restated a “market perform” rating and issued a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th. Zacks Research raised shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods increased their target price on shares of S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, DA Davidson raised their target price on shares of S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.60.

Institutional Trading of S&T Bancorp

A number of hedge funds have recently bought and sold shares of STBA. Costello Asset Management INC bought a new stake in S&T Bancorp during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its holdings 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 valued at $34,000 after acquiring an additional 888 shares during the period. Torren Management LLC bought a new position in shares of S&T Bancorp in the 4th quarter worth $37,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of S&T Bancorp in the 2nd quarter worth $37,000. Finally, Smithfield Trust Co bought a new position in shares of S&T Bancorp in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 65.22% of the company’s stock.

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.