S&T Bancorp (NASDAQ:STBA) Hits New 52-Week High - Here's Why

Key Points

• New 52-week high: Shares of S&T Bancorp reached as high as $44.95 (last at $44.81) on Tuesday with about 132,508 shares traded, representing a roughly 2.1% intraday gain.
• Earnings, dividend and buyback: The company posted quarterly EPS of $0.94, beating estimates by $0.07, raised the quarterly dividend to $0.37 (3.3% yield) and approved a $100 million share buyback (about 6.2% of shares).
• Analyst view and valuation: Consensus rating is a "Hold" with an average price target of $44.40 (two Buys, five Holds), while the stock trades at a P/E of 12.54 and a market cap of $1.64 billion.

Shares of S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $44.95 and last traded at $44.8070, with a volume of 132508 shares traded. The stock had previously closed at $43.83.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. DA Davidson assumed coverage on shares of S&T Bancorp in a research note on Wednesday, February 25th. They issued a "neutral" rating and a $47.00 price objective for the company. Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, March 22nd. Weiss Ratings restated a "buy (b)" rating on shares of S&T Bancorp in a research note on Monday, April 27th. Hovde Group upped their price objective on shares of S&T Bancorp from $44.00 to $47.00 and gave the company a "market perform" rating in a research note on Monday, February 23rd. Finally, Zacks Research downgraded shares of S&T Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 6th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $44.40.

S&T Bancorp Stock Up 2.1%

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 12.54 and a beta of 0.85. The firm's 50 day simple moving average is $42.39 and its 200-day simple moving average is $40.93.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The company had revenue of $102.08 million during the quarter, compared to the consensus estimate of $103.62 million. As a group, sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.

S&T Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.48 annualized dividend and a yield of 3.3%. This is a boost from S&T Bancorp's previous quarterly dividend of $0.36. S&T Bancorp's dividend payout ratio (DPR) is currently 40.34%.

S&T Bancorp announced that its board has approved a stock buyback plan on Thursday, January 22nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of S&T Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund raised its stake in S&T Bancorp by 3.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 20,476 shares of the financial services provider's stock valued at $857,000 after acquiring an additional 729 shares during the last quarter. Fifth Third Bancorp raised its stake in S&T Bancorp by 10.4% during the 1st quarter. Fifth Third Bancorp now owns 79,215 shares of the financial services provider's stock valued at $3,314,000 after acquiring an additional 7,446 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in S&T Bancorp during the 1st quarter valued at approximately $1,060,000. Strs Ohio purchased a new stake in S&T Bancorp during the 1st quarter valued at approximately $54,000. Finally, Inspire Investing LLC raised its stake in S&T Bancorp by 3.6% during the 1st quarter. Inspire Investing LLC now owns 12,270 shares of the financial services provider's stock valued at $513,000 after acquiring an additional 423 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Company Profile

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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