S&T Bancorp, Inc. (NASDAQ:STBA) Receives $51.60 Consensus Target Price from Analysts

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $51.60.

STBA has been the subject of a number of research reports. DA Davidson lifted their target price on S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods raised their price target on shares of S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Piper Sandler lifted their price objective on shares of S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th.

Insider Buying and Selling at S&T Bancorp

In other S&T Bancorp news, Director William J. Hieb sold 11,979 shares of S&T Bancorp stock in a transaction dated 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 owned 17,344 shares in the company, valued at approximately $890,440.96. This trade represents a 40.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.23% of the company’s stock.

Institutional Trading of S&T Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its holdings in S&T Bancorp by 2.5% in the fourth quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 269 shares during the period. Royal Bank of Canada increased its position in S&T Bancorp by 5.0% during the first quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 269 shares during the last quarter. GAMMA Investing LLC raised its stake in S&T Bancorp by 16.4% during the second quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 285 shares during the period. HBK Sorce Advisory LLC raised its stake in S&T Bancorp by 3.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 8,414 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 300 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of S&T Bancorp by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 10,992 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 345 shares during the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Price Performance

NASDAQ STBA opened at $50.75 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s fifty day moving average price is $49.81 and its 200 day moving average price is $45.58. S&T Bancorp has a 1 year low of $34.38 and a 1 year high of $53.50. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 13.50 and a beta of 0.84.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. The company had revenue of $105.24 million during the quarter, compared to analysts’ expectations of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. As a group, equities research analysts forecast that S&T Bancorp will post 3.93 earnings per share for the current year.

S&T Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 18th. S&T Bancorp’s dividend payout ratio is presently 39.36%.

S&T Bancorp announced that its board has approved a stock repurchase 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 repurchase up to 5.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.