S&T Bancorp (NASDAQ:STBA) Issues Quarterly Earnings Results

S&T Bancorp (NASDAQ:STBA) announced its quarterly earnings data on Thursday. The financial services provider reported $0.91 EPS for the quarter, FiscalAI reports. The company had revenue of $103.61 million during the quarter. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.72%.

S&T Bancorp Price Performance

STBA stock traded up $0.27 during midday trading on Friday, reaching $38.25. 192,270 shares of the company’s stock traded hands, compared to its average volume of 153,387. The company has a 50-day simple moving average of $37.63 and a two-hundred day simple moving average of $37.64. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp has a 1-year low of $30.84 and a 1-year high of $45.46. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 11.02 and a beta of 0.98.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.44 dividend on an annualized basis and a yield of 3.8%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.34. S&T Bancorp’s payout ratio is 41.50%.

Analyst Ratings Changes

Several research analysts recently commented on STBA shares. Piper Sandler reduced their target price on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Keefe, Bruyette & Woods upped their target price on shares of S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, October 24th. Finally, Weiss Ratings raised shares of S&T Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.00.

Insider Activity at S&T Bancorp

In other S&T Bancorp news, Director Jeffrey D. Grube purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average cost of $36.55 per share, with a total value of $91,375.00. Following the completion of the acquisition, the director directly owned 44,985 shares of the company’s stock, valued at $1,644,201.75. This represents a 5.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of S&T Bancorp by 5,223.5% during the second 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 period. Versant Capital Management Inc boosted its holdings in S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock worth $49,000 after buying an additional 384 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of S&T Bancorp by 26.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 316 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of S&T Bancorp in the 2nd quarter valued at approximately $91,000. Finally, Legend Financial Advisors Inc. bought a new position in S&T Bancorp during the 2nd quarter worth approximately $128,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.