S&T Bancorp, Inc. (NASDAQ:STBA) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts rate S&T Bancorp a “Moderate Buy,” with two buy ratings, one strong-buy rating and four hold ratings; the average 12-month price target is $51.60.
• The bank beat quarterly expectations, reporting $1.02 in EPS versus the $0.92 consensus estimate and revenue of $105.24 million versus $104.43 million expected.
• S&T Bancorp declared a quarterly dividend of $0.37 per share, representing a 2.9% yield, and authorized a $100 million share-repurchase plan covering up to 5.6% of outstanding shares.

Shares of S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven analysts that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.60.

STBA has been the subject of several research analyst reports. Hovde Group restated a "market perform" rating and set a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. DA Davidson boosted 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 raised S&T Bancorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Weiss Ratings reissued a "buy (b)" rating on shares of S&T Bancorp in a report on Friday, July 24th. Finally, Piper Sandler raised their target price on S&T Bancorp from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Monday, July 27th.

Insider Transactions at S&T Bancorp

In other S&T Bancorp news, Director William J. Hieb sold 11,979 shares of S&T Bancorp stock in a transaction 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 owned 17,344 shares of the company's stock, valued at $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. 1.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of STBA. Costello Asset Management INC acquired a new stake in S&T Bancorp in the 4th quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of S&T Bancorp during the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC boosted its holdings in shares of S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider's stock worth $34,000 after purchasing an additional 888 shares during the last quarter. Torren Management LLC purchased a new stake in shares of S&T Bancorp in the fourth quarter valued at approximately $37,000. Finally, Smithfield Trust Co acquired a new stake in shares of S&T Bancorp in the fourth quarter valued at approximately $40,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Stock Performance

NASDAQ:STBA opened at $51.56 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day moving average of $49.51 and a two-hundred day moving average of $45.38. The stock has a market capitalization of $1.82 billion, a PE ratio of 13.71 and a beta of 0.85. S&T Bancorp has a fifty-two week low of $34.38 and a fifty-two week high of $53.50.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $104.43 million. As a group, research analysts forecast that S&T Bancorp will post 3.93 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 18th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 18th. S&T Bancorp's dividend payout ratio is currently 39.36%.

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