S&T Bancorp (NASDAQ:STBA) Reaches New 52-Week High – Time to Buy?

S&T Bancorp, Inc. (NASDAQ:STBA) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $43.71 and last traded at $43.80, with a volume of 36520 shares changing hands. The stock had previously closed at $41.94.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods increased their target price on S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, S&T Bancorp has a consensus rating of “Hold” and an average price target of $41.00.

S&T Bancorp Stock Up 4.3%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.67 billion, a PE ratio of 12.61 and a beta of 0.92. The business has a 50-day moving average price of $40.18 and a 200-day moving average price of $38.69.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $105.29 million for the quarter, compared to analyst estimates of $103.46 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.72%. Equities research analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 13th were issued a $0.36 dividend. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, November 13th. S&T Bancorp’s payout ratio is currently 41.50%.

Insider Transactions at S&T Bancorp

In other news, Director Jeffrey D. Grube bought 2,500 shares of S&T Bancorp stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $36.55 per share, with a total value of $91,375.00. Following the completion of the purchase, the director directly owned 44,985 shares of the company’s stock, valued at approximately $1,644,201.75. This trade represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.23% of the company’s stock.

Institutional Trading of S&T Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in STBA. Legend Financial Advisors Inc. purchased a new stake in shares of S&T Bancorp in the 2nd quarter valued at approximately $128,000. Edgestream Partners L.P. acquired a new stake in S&T Bancorp in the 2nd quarter valued at approximately $3,193,000. Wealth Enhancement Advisory Services LLC purchased a new stake in S&T Bancorp in the second quarter valued at approximately $212,000. CWM LLC lifted its stake in S&T Bancorp by 12.3% during the second quarter. CWM LLC now owns 8,083 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 888 shares in the last quarter. Finally, S&T Bank PA lifted its stake in S&T Bancorp by 2.3% during the second quarter. S&T Bank PA now owns 324,603 shares of the financial services provider’s stock worth $12,276,000 after purchasing an additional 7,230 shares in the last quarter. Institutional investors and hedge funds 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.