S&T Bancorp (NASDAQ:STBA) Price Target Raised to $52.00

S&T Bancorp (NASDAQ:STBA) had its target price boosted by Keefe, Bruyette & Woods from $49.00 to $52.00 in a research report released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Piper Sandler raised their price target on S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Monday. DA Davidson boosted their price target on shares of S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Hovde Group reaffirmed a “market perform” rating and set a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a research note on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a research report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.60.

S&T Bancorp Price Performance

Shares of NASDAQ:STBA opened at $52.95 on Monday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 14.08 and a beta of 0.84. The firm has a fifty day moving average price of $48.00 and a 200 day moving average price of $44.52. S&T Bancorp has a fifty-two week low of $34.01 and a fifty-two week high of $53.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99.

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

S&T Bancorp declared that its board has authorized a stock buyback plan on Thursday, July 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of S&T Bancorp

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in S&T Bancorp by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,345,177 shares of the financial services provider’s stock worth $98,098,000 after buying an additional 6,583 shares during the period. State Street Corp raised its stake in shares of S&T Bancorp by 3.7% in the fourth quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock valued at $67,815,000 after acquiring an additional 61,800 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $63,922,000 after acquiring an additional 20,411 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $37,729,000 after acquiring an additional 3,388 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of S&T Bancorp by 33.5% during 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 during the period. 65.22% of the stock is currently owned by institutional investors.

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.