S&T Bancorp (NASDAQ:STBA) Sets New 1-Year High – What’s Next?

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) reached a new 52-week high on Thursday . The company traded as high as $47.46 and last traded at $47.24, with a volume of 232246 shares. The stock had previously closed at $46.51.

Analyst Ratings Changes

A number of analysts have weighed in on STBA shares. Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Hovde Group raised their price objective on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. DA Davidson started coverage on shares of S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $44.40.

S&T Bancorp Stock Up 1.5%

The business’s fifty day moving average price is $44.43 and its 200 day moving average price is $42.49. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.40 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data 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. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The firm had revenue of $102.08 million for the quarter, compared to analyst estimates of $103.62 million. On average, equities analysts expect that S&T Bancorp, Inc. will post 3.75 EPS for the current year.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a $0.37 dividend. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, May 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.1%. S&T Bancorp’s payout ratio is 41.46%.

Hedge Funds Weigh In On S&T Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in S&T Bancorp by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,345,177 shares of the financial services provider’s stock valued at $98,098,000 after buying an additional 6,583 shares during the last quarter. State Street Corp grew its position 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 valued at $67,815,000 after buying an additional 61,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in S&T Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,624,436 shares of the financial services provider’s stock valued at $63,922,000 after buying an additional 20,411 shares during the last quarter. Geode Capital Management LLC grew its position in S&T Bancorp by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 958,685 shares of the financial services provider’s stock valued at $37,729,000 after buying an additional 3,388 shares during the last quarter. Finally, Millennium Management LLC grew its position 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 valued at $17,260,000 after buying an additional 115,333 shares during the last quarter. 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.