Keefe, Bruyette & Woods Cuts S&T Bancorp (NASDAQ:STBA) Price Target to $43.00

S&T Bancorp (NASDAQ:STBA - Free Report) had its price objective cut by Keefe, Bruyette & Woods from $44.00 to $43.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider's stock.

S&T Bancorp Trading Up 2.2 %

S&T Bancorp stock traded up $0.79 during trading on Monday, reaching $37.41. 141,552 shares of the company were exchanged, compared to its average volume of 165,192. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99. The stock's 50 day simple moving average is $36.65 and its two-hundred day simple moving average is $38.81. The company has a market capitalization of $1.43 billion, a P/E ratio of 10.97 and a beta of 0.75. S&T Bancorp has a 52-week low of $29.85 and a 52-week high of $45.79.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. S&T Bancorp had a net margin of 23.24% and a return on equity of 9.77%. The firm had revenue of $93.75 million for the quarter, compared to analysts' expectations of $96.40 million. On average, equities research analysts expect that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, May 15th. S&T Bancorp's dividend payout ratio is presently 39.19%.

Insiders Place Their Bets

In other S&T Bancorp news, Director Bhaskar Ramachandran purchased 764 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $39.25 per share, for a total transaction of $29,987.00. Following the acquisition, the director now owns 1,251 shares in the company, valued at $49,101.75. This trade represents a 156.88 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co boosted its position in shares of S&T Bancorp by 0.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 39,655 shares of the financial services provider's stock worth $1,512,000 after purchasing an additional 254 shares during the period. Versant Capital Management Inc grew its stake in shares of S&T Bancorp by 48.6% in the fourth quarter. Versant Capital Management Inc now owns 926 shares of the financial services provider's stock valued at $35,000 after buying an additional 303 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of S&T Bancorp by 7.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock valued at $192,000 after buying an additional 367 shares during the period. Wells Fargo & Company MN raised its holdings in shares of S&T Bancorp by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 151,252 shares of the financial services provider's stock valued at $5,781,000 after buying an additional 410 shares during the period. Finally, Confluence Wealth Services Inc. boosted its holdings in S&T Bancorp by 1.5% during the 1st quarter. Confluence Wealth Services Inc. now owns 31,271 shares of the financial services provider's stock valued at $1,132,000 after acquiring an additional 465 shares during the period. Hedge funds and other institutional investors own 65.22% of the company's stock.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.