S&T Bancorp (NASDAQ:STBA) Director Sells 11,979 Shares of Stock

Key Points

• Director William Hieb sold 11,979 S&T Bancorp shares at an average price of $51.34, generating approximately $615,002. After the sale, his direct ownership fell 40.85% to 17,344 shares.
• S&T Bancorp recently reported quarterly EPS of $1.02, exceeding analyst expectations of $0.92, on revenue of $105.24 million. The board also authorized a $100 million share-repurchase program, equivalent to up to 5.6% of outstanding shares.
• The company declared a quarterly dividend of $0.37 per share, representing an annualized dividend of $1.48 and a 2.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $51.60.

S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) Director William Hieb sold 11,979 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $890,440.96. This trade represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

S&T Bancorp Stock Performance

NASDAQ:STBA traded up $0.09 on Thursday, reaching $51.56. 223,949 shares of the company's stock were exchanged, compared to its average volume of 253,449. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 13.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a fifty day simple moving average of $49.39 and a 200-day simple moving average of $45.31. S&T Bancorp, Inc. has a 52 week low of $34.38 and a 52 week high of $53.50.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $105.24 million for the quarter, compared to analysts' expectations of $104.43 million. As a group, sell-side analysts predict that S&T Bancorp, Inc. will post 3.93 earnings per share for the current year.

S&T Bancorp announced that its board has initiated a share repurchase plan on Thursday, July 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

S&T Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STBA. Zacks Research raised S&T Bancorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Piper Sandler upped their target price on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. DA Davidson raised their price target 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. Keefe, Bruyette & Woods upped their price target on shares of S&T Bancorp from $49.00 to $52.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of S&T Bancorp in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.60.

Institutional Investors Weigh In On S&T Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its stake in S&T Bancorp by 220.3% in the first quarter. Quantinno Capital Management LP now owns 67,325 shares of the financial services provider's stock worth $2,816,000 after buying an additional 46,308 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of S&T Bancorp by 19.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 123,171 shares of the financial services provider's stock worth $5,152,000 after acquiring an additional 20,460 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of S&T Bancorp in the 1st quarter valued at $1,060,000. Denali Advisors LLC boosted its stake in shares of S&T Bancorp by 43.3% in the 4th quarter. Denali Advisors LLC now owns 127,100 shares of the financial services provider's stock valued at $5,001,000 after purchasing an additional 38,400 shares in the last quarter. Finally, Dean Capital Management grew its holdings in shares of S&T Bancorp by 30.3% during the 4th quarter. Dean Capital Management now owns 47,830 shares of the financial services provider's stock valued at $1,882,000 after purchasing an additional 11,132 shares during the last quarter. 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 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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