S&T Bancorp (NASDAQ:STBA) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• S&T Bancorp shares moved above their 200-day moving average, reaching $50.29 and last trading at $49.86, compared with a 200-day average of $45.87.
• Analysts raised several price targets, with a consensus rating of “Moderate Buy” and an average target of $51.60; the company also beat quarterly earnings expectations with $1.02 in EPS versus $0.92 expected.
• S&T Bancorp announced a quarterly dividend of $0.37 per share, yielding about 3%, and authorized a $100 million share-repurchase program covering up to 5.6% of outstanding shares.

S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.87 and traded as high as $50.29. S&T Bancorp shares last traded at $49.86, with a volume of 256,736 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on STBA. Piper Sandler boosted their price target on S&T Bancorp from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. DA Davidson raised their price objective on S&T Bancorp from $47.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Zacks Research upgraded S&T Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of S&T Bancorp in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods upped their target price on S&T Bancorp from $49.00 to $52.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.60.

S&T Bancorp Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.76 billion, a P/E ratio of 13.26 and a beta of 0.85. The company has a 50 day moving average price of $50.16 and a 200-day moving average price of $45.87.

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 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. The business had revenue of $105.24 million during the quarter, compared to the consensus estimate of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. On average, equities analysts expect that S&T Bancorp, Inc. will post 3.93 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.0%. S&T Bancorp's dividend payout ratio is 39.36%.

S&T Bancorp declared that its board has approved a share repurchase program on Thursday, July 23rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 5.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at S&T Bancorp

In related news, Director William J. Hieb sold 11,979 shares of S&T Bancorp stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total transaction of $615,001.86. Following the sale, the director directly owned 17,344 shares of the company's stock, valued at approximately $890,440.96. The trade was a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.23% of the company's stock.

Hedge Funds Weigh In On S&T Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of S&T Bancorp during the second quarter worth $253,047,000. Dimensional Fund Advisors LP lifted its stake in shares of S&T Bancorp by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,345,177 shares of the financial services provider's stock valued at $98,098,000 after acquiring an additional 6,583 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of S&T Bancorp by 5,866.9% in the 2nd quarter. California State Teachers Retirement System now owns 2,087,863 shares of the financial services provider's stock valued at $102,472,000 after acquiring an additional 2,052,872 shares during the last quarter. State Street Corp lifted its stake in shares of S&T Bancorp by 3.7% in the 4th 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of S&T Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,624,436 shares of the financial services provider's stock valued at $63,922,000 after acquiring an additional 20,411 shares in the last quarter. Institutional investors own 65.22% of the company's stock.

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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