S&T Bancorp, Inc. (NASDAQ:STBA) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Wall Street consensus is “Hold”: Six of eight analysts rate S&T Bancorp neutral, while two recommend buying; the average 12-month price target is $51.60.
• S&T Bancorp exceeded quarterly expectations, reporting $1.02 in EPS versus the $0.92 consensus and revenue of $105.24 million versus $104.43 million expected.
• The company offers a 3.0% dividend yield and authorized a $100 million share-repurchase program, allowing buybacks of up to 5.6% of outstanding shares.

S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) has earned a consensus recommendation of "Hold" from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $51.60.

Several analysts recently weighed in on the stock. DA Davidson raised their target price on shares of S&T Bancorp from $47.00 to $53.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Wall Street Zen lowered shares of S&T Bancorp from a "hold" rating to a "sell" rating in a report on Saturday. Zacks Research cut shares of S&T Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 25th. Raymond James Financial began coverage on shares of S&T Bancorp in a research note on Thursday. They set a "market perform" rating for the company. Finally, Hovde Group reissued a "market perform" rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th.

S&T Bancorp Stock Performance

S&T Bancorp stock opened at $49.64 on Friday. The firm has a 50 day simple moving average of $50.48 and a 200-day simple moving average of $47.16. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 13.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. S&T Bancorp has a 1-year low of $34.38 and a 1-year high of $53.50.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.10. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. The business had revenue of $105.24 million during the quarter, compared to analysts' expectations of $104.43 million. On average, analysts expect that S&T Bancorp will post 3.95 EPS for the current year.

S&T Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, August 18th. S&T Bancorp's dividend payout ratio is currently 39.36%.

S&T Bancorp announced that its board has authorized a stock buyback plan on Thursday, July 23rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 5.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other S&T Bancorp news, Director William Hieb sold 11,979 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total value of $615,001.86. Following the completion of the sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On S&T Bancorp

A number of hedge funds have recently modified their holdings of STBA. Public Employees Retirement System of Ohio purchased a new position in S&T Bancorp during the 2nd quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of S&T Bancorp in the second quarter valued at about $37,000. Strs Ohio purchased a new stake in shares of S&T Bancorp in the first quarter valued at about $54,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of S&T Bancorp during the second quarter worth about $74,000. Finally, GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 285 shares during the period. 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. Its principal subsidiary, S&T Bank, provides banking and financial services to consumers, businesses and institutions.

S&T Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and mortgage services. Through its wealth-management and trust operations, the bank also provides investment management, financial planning, fiduciary and estate-related services.

Founded in 1902, S&T Bancorp serves customers through a network of offices and digital banking channels in western and central Pennsylvania and eastern Ohio.

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