S&T Bancorp, Inc. (NASDAQ:STBA) Given Average Recommendation of “Hold” by Brokerages

S&T Bancorp, Inc. (NASDAQ:STBA) has earned a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $41.00.

Several brokerages have recently commented on STBA. Piper Sandler lowered their target price on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their target price on S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, October 24th.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA opened at $41.08 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $40.32 and a 200 day moving average price of $38.72. The stock has a market capitalization of $1.57 billion, a PE ratio of 11.74 and a beta of 0.92. S&T Bancorp has a 52 week low of $30.84 and a 52 week high of $43.90.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. The firm had revenue of $105.29 million during the quarter, compared to analysts’ expectations of $103.46 million. Analysts predict that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp declared that its Board of Directors has initiated a stock buyback plan on Thursday, January 22nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were given a dividend of $0.36 per share. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 3.5%. The ex-dividend date was Thursday, November 13th. S&T Bancorp’s dividend payout ratio (DPR) is presently 41.14%.

Insider Activity at S&T Bancorp

In related news, Director Jeffrey D. Grube purchased 2,500 shares of S&T Bancorp stock in a transaction dated Tuesday, October 28th. The shares were bought at an average cost of $36.55 per share, for a total transaction of $91,375.00. Following the purchase, the director owned 44,985 shares in the company, valued at approximately $1,644,201.75. This trade represents a 5.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of S&T Bancorp by 9.7% during the fourth quarter. SG Americas Securities LLC now owns 22,100 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 1,953 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in S&T Bancorp by 37.6% in the third quarter. JPMorgan Chase & Co. now owns 51,208 shares of the financial services provider’s stock valued at $1,925,000 after acquiring an additional 13,988 shares during the last quarter. Tudor Investment Corp ET AL increased its position in S&T Bancorp by 4.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 105,650 shares of the financial services provider’s stock valued at $3,971,000 after purchasing an additional 4,371 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in S&T Bancorp during the 3rd quarter valued at approximately $50,000. Finally, CIBC Bancorp USA Inc. bought a new position in S&T Bancorp during the 3rd quarter worth approximately $203,000. Institutional investors and hedge funds 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.