S&T Bancorp, Inc. (NASDAQ:STBA) Receives Consensus Rating of “Hold” from Brokerages

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have been given an average rating of “Hold” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $44.40.

STBA has been the subject of a number of research analyst reports. Zacks Research cut S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. DA Davidson initiated coverage on S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price target for the company. Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Hovde Group boosted their price target on S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th.

Hedge Funds Weigh In On S&T Bancorp

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in S&T Bancorp by 33.5% in the 3rd quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock worth $17,260,000 after purchasing an additional 115,333 shares in the last quarter. Jane Street Group LLC acquired a new position in S&T Bancorp in the 1st quarter worth about $4,211,000. Qube Research & Technologies Ltd increased its holdings in S&T Bancorp by 58.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock worth $8,820,000 after purchasing an additional 86,125 shares in the last quarter. Global Retirement Partners LLC acquired a new position in S&T Bancorp in the 4th quarter worth about $3,052,000. Finally, State Street Corp increased its holdings in S&T Bancorp by 3.7% in the 4th quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock worth $67,815,000 after purchasing an additional 61,800 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

S&T Bancorp Stock Performance

NASDAQ:STBA opened at $45.09 on Friday. The stock has a fifty day moving average price of $43.46 and a 200-day moving average price of $41.96. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 12.63 and a beta of 0.85. 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 has a fifty-two week low of $34.01 and a fifty-two week high of $45.54.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $102.08 million during the quarter, compared to the consensus estimate 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, equities analysts anticipate that S&T Bancorp will post 3.75 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.37 per share. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. S&T Bancorp’s payout ratio is presently 41.46%.

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.