S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $53.50 and last traded at $53.36, with a volume of 332475 shares changing hands. The stock had previously closed at $52.13.
Analyst Upgrades and Downgrades
STBA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on S&T Bancorp from $49.00 to $52.00 and gave the stock a "market perform" rating in a report on Monday. DA Davidson raised their price objective on S&T Bancorp from $47.00 to $53.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Piper Sandler lifted 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. Weiss Ratings reissued a "buy (b)" rating on shares of S&T Bancorp in a research note on Friday. Finally, Hovde Group reissued a "market perform" rating and set a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $51.60.
Read Our Latest Stock Analysis on S&T Bancorp
S&T Bancorp Price Performance
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 market cap of $1.92 billion, a price-to-earnings ratio of 14.19 and a beta of 0.84. The business's 50-day simple moving average is $47.84 and its two-hundred day simple moving average is $44.43.
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 earnings per share (EPS) for the quarter, topping 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 company had revenue of $105.24 million during the quarter, compared to the consensus estimate of $104.43 million. Research analysts expect that S&T Bancorp, Inc. will post 3.88 earnings per share for the current year.
S&T Bancorp announced that its Board of Directors has authorized a share repurchase program on Thursday, July 23rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On S&T Bancorp
A number of institutional investors and hedge funds have recently bought and sold shares of STBA. JPMorgan Chase & Co. lifted its holdings in shares of S&T Bancorp by 37.6% during the third quarter. JPMorgan Chase & Co. now owns 51,208 shares of the financial services provider's stock worth $1,925,000 after purchasing an additional 13,988 shares during the period. Denali Advisors LLC grew its stake in shares of S&T Bancorp by 43.3% in the fourth quarter. Denali Advisors LLC now owns 127,100 shares of the financial services provider's stock worth $5,001,000 after purchasing an additional 38,400 shares during the last quarter. Dean Capital Management increased its holdings in S&T Bancorp by 30.3% in the fourth 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 period. Louisiana State Employees Retirement System bought a new position in S&T Bancorp during the 1st quarter worth $694,000. Finally, Global Retirement Partners LLC bought a new position in S&T Bancorp during the 4th quarter worth $3,052,000. Institutional investors and hedge funds own 65.22% of the company's stock.
S&T Bancorp Company Profile
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Get Free Report)
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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