S&T Bancorp (NASDAQ:STBA) Sets New 12-Month High - Should You Buy?

Key Points

• S&T Bancorp shares reached a new 52-week high of $53.58, above the previous close of $52.16.
• The bank beat quarterly earnings expectations, reporting EPS of $1.09 versus analysts’ $0.99 estimate, and revenue of $107.79 million versus $106.72 million expected.
• Analysts’ consensus rating is Hold, with a $52.20 average price target. The company also offers a 2.8% dividend yield and has authorized up to $100 million in share repurchases.

Shares of S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $53.58 and last traded at $53.0050, with a volume of 9,925 shares. The stock had previously closed at $52.16.

Wall Street Analysts Forecast Growth

STBA has been the topic of a number of research analyst reports. DA Davidson boosted their price objective 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of S&T Bancorp in a report on Thursday, October 22nd. Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, October 11th. Piper Sandler boosted their target price on shares of S&T Bancorp from $53.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, October 26th. Finally, Raymond James Financial assumed coverage on shares of S&T Bancorp in a report on Thursday, October 1st. They issued a "market perform" rating for the company. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, S&T Bancorp currently has an average rating of "Hold" and a consensus price target of $52.20.

S&T Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.99 and a current ratio of 0.99. The firm's 50 day simple moving average is $49.67 and its 200-day simple moving average is $46.56. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 13.30 and a beta of 0.86.

S&T Bancorp (NASDAQ:STBA - Get Free Report) 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. S&T Bancorp had a net margin of 25.10% and a return on equity of 10.11%. The company had revenue of $107.79 million during the quarter, compared to the consensus estimate of $106.72 million. On average, sell-side analysts predict that S&T Bancorp, Inc. will post 4.06 EPS for the current year.

S&T Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.48 dividend on an annualized basis and a yield of 2.8%. S&T Bancorp's payout ratio is 37.56%.

S&T Bancorp declared that its board has authorized a stock repurchase plan on Thursday, July 23rd that permits the company to buy back $100 million in shares. This repurchase authorization permits the financial services provider to purchase up to 5.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at S&T Bancorp

In related news, Director William Hieb sold 11,979 shares of the 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 transaction, the director directly owned 17,344 shares in the company, valued at approximately $890,440.96. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On S&T Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new position in shares of S&T Bancorp during the second quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in S&T Bancorp in the 3rd quarter worth about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in S&T Bancorp in the 2nd quarter worth about $37,000. Strs Ohio acquired a new stake in S&T Bancorp during the 1st quarter worth about $54,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in S&T Bancorp during the 2nd quarter worth about $74,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

About S&T Bancorp

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.

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