S&T Bancorp (NASDAQ:STBA) Reaches New 12-Month High – Here’s Why

S&T Bancorp, Inc. (NASDAQ:STBA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $44.03 and last traded at $42.99, with a volume of 63326 shares. The stock had previously closed at $43.21.

Analysts Set New Price Targets

Several analysts have recently issued reports on STBA shares. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, January 26th. Keefe, Bruyette & Woods boosted their price objective on S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Piper Sandler decreased their target price on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.25.

S&T Bancorp Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $40.80 and a two-hundred day simple moving average of $38.85. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 12.29 and a beta of 0.93.

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 (EPS) for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $105.29 million during the quarter, compared to analysts’ expectations of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. On average, equities research analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.3%. S&T Bancorp’s dividend payout ratio is currently 41.14%.

S&T Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, January 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in shares of S&T Bancorp by 2.5% during the fourth quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock valued at $438,000 after acquiring an additional 269 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of S&T Bancorp by 1.4% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 20,494 shares of the financial services provider’s stock worth $770,000 after purchasing an additional 275 shares during the period. GAMMA Investing LLC boosted 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 worth $57,000 after purchasing an additional 316 shares during the period. Amalgamated Bank increased its holdings in S&T Bancorp by 3.4% in the 3rd quarter. Amalgamated Bank now owns 11,313 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 368 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in S&T Bancorp by 41.6% in the third 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. 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.