S&T Bancorp (NASDAQ:STBA) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $45.87 and traded as high as $50.29. S&T Bancorp shares last traded at $49.86, with a volume of 256,736 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on STBA. Keefe, Bruyette & Woods increased their price target on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Piper Sandler upped their target price on S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. DA Davidson raised their target price on S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. 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’s stock. According to MarketBeat, S&T Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $51.60.

S&T Bancorp Stock Performance

The firm’s 50 day moving average price is $50.22 and its two-hundred day moving average price is $45.91. The firm has a market cap of $1.76 billion, a PE ratio of 13.27 and a beta of 0.85. 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 (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.92 by $0.10. The firm had revenue of $105.24 million for 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, research analysts forecast that S&T Bancorp, Inc. will post 3.93 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 18th. S&T Bancorp’s dividend payout ratio is 39.36%.

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

Insider Buying and Selling at S&T Bancorp

In other news, Director William J. Hieb sold 11,979 shares of the 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 transaction, the director directly owned 17,344 shares in the company, valued at approximately $890,440.96. This represents a 40.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Institutional Trading of S&T Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in S&T Bancorp during the second quarter worth about $29,000. Costello Asset Management INC purchased a new stake in shares of S&T Bancorp in the 4th quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of S&T Bancorp in the 2nd quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted 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 worth $34,000 after acquiring an additional 888 shares during the last quarter. Finally, Torren Management LLC acquired a new position in shares of S&T Bancorp in the 4th quarter worth approximately $37,000. 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.