Hsbc Holdings PLC Acquires Shares of 25,347 S&T Bancorp, Inc. $STBA

Key Points

• Hsbc Holdings PLC acquired 25,347 shares of S&T Bancorp in the first quarter, valued at approximately $1.06 million and representing about 0.07% of the company. Institutional investors collectively own 65.22% of STBA.
• Analysts raised their price targets to roughly $52–$54, but the consensus rating remains Hold, with an average target price of $51.60.
• S&T Bancorp beat quarterly earnings expectations, reporting $1.02 in EPS versus a $0.92 consensus estimate. Its board also approved a $100 million share-repurchase program, allowing buybacks of up to 5.6% of outstanding shares.

Hsbc Holdings PLC acquired a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 25,347 shares of the financial services provider's stock, valued at approximately $1,060,000. Hsbc Holdings PLC owned about 0.07% of S&T Bancorp as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of S&T Bancorp in the first quarter valued at about $54,000. Inspire Investing LLC lifted its position in S&T Bancorp by 3.6% in the first quarter. Inspire Investing LLC now owns 12,270 shares of the financial services provider's stock valued at $513,000 after purchasing an additional 423 shares during the period. Janney Montgomery Scott LLC lifted its position in S&T Bancorp by 3.9% in the first quarter. Janney Montgomery Scott LLC now owns 18,146 shares of the financial services provider's stock valued at $759,000 after purchasing an additional 680 shares during the period. Louisiana State Employees Retirement System acquired a new stake in S&T Bancorp in the first quarter valued at about $694,000. Finally, SG Americas Securities LLC boosted its holdings in S&T Bancorp by 20.1% in the 1st quarter. SG Americas Securities LLC now owns 26,545 shares of the financial services provider's stock valued at $1,110,000 after purchasing an additional 4,445 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on STBA shares. DA Davidson boosted their target price on 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 reissued a "market perform" rating and issued a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a report on Monday. Weiss Ratings restated a "buy (b)" rating on shares of S&T Bancorp in a research note on Friday. Keefe, Bruyette & Woods lifted their price target on S&T Bancorp from $49.00 to $52.00 and gave the company a "market perform" rating in a research note on Monday. Finally, Piper Sandler upped their price objective on S&T Bancorp from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $51.60.

S&T Bancorp Stock Performance

NASDAQ:STBA opened at $53.36 on Wednesday. The firm's fifty day simple moving average is $47.84 and its 200-day simple moving average is $44.43. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.92 billion, a PE ratio of 14.19 and a beta of 0.84. S&T Bancorp, Inc. has a fifty-two week low of $34.01 and a fifty-two week high of $53.50.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.92 by $0.10. The firm had revenue of $105.24 million during 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%. Analysts expect that S&T Bancorp, Inc. will post 3.88 earnings per share for the current fiscal year.

S&T Bancorp announced that its Board of Directors has approved a stock buyback program on Thursday, July 23rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 5.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors 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.

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