S&T Bancorp, Inc. (NASDAQ:STBA) Stock Has Average Price Target of $52.20

S&T Bancorp, Inc. (NASDAQ:STBA) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $52.20.

STBA has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on S&T Bancorp from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Hovde Group restated a “market perform” rating and issued a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. 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 note on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a research report on Thursday, October 22nd. Finally, Raymond James Financial started coverage on S&T Bancorp in a research report on Thursday, October 1st. They issued a “market perform” rating for the company.

Insider Buying and Selling

In other news, Director William 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 value of $615,001.86. Following the transaction, the director directly owned 17,344 shares in the company, valued at approximately $890,440.96. The trade was a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On S&T Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in S&T Bancorp during the 3rd quarter worth approximately $1,626,000. ProShare Advisors LLC increased its stake in shares of S&T Bancorp by 38.6% during the third quarter. ProShare Advisors LLC now owns 203,260 shares of the financial services provider’s stock valued at $9,832,000 after buying an additional 56,574 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of S&T Bancorp during the third quarter valued at $522,000. Nisa Investment Advisors LLC lifted its stake in shares of S&T Bancorp by 16.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,818 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 939 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of S&T Bancorp during the third quarter valued at approximately $31,000. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $50.55 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $49.57 and its two-hundred day moving average is $46.38. S&T Bancorp has a 12 month low of $36.13 and a 12 month high of $53.50. The company has a market cap of $1.78 billion, a PE ratio of 12.83 and a beta of 0.86.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $107.79 million during the quarter, compared to the consensus estimate of $106.72 million. S&T Bancorp had a return on equity of 10.11% and a net margin of 25.10%. Equities analysts predict that S&T Bancorp will post 4.06 EPS for the current year.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, November 12th. S&T Bancorp’s dividend payout ratio is currently 37.56%.

S&T Bancorp declared that its board has approved a stock repurchase program on Thursday, July 23rd that permits the company to repurchase $100 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 5.6% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

S&T Bancorp Company Profile

S&T Bancorp, Inc is the financial holding company for S&T Bank, a community bank headquartered in Indiana, Pennsylvania. Founded in 1902, S&T Bank serves consumers, businesses, and institutions through a network of banking offices and digital channels.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing, and business loans. It also offers treasury and cash-management services designed to support business customers.

S&T Bank serves communities primarily across western Pennsylvania and eastern Ohio.