S&T Bancorp (NASDAQ:STBA) Hits New 12-Month High – Here’s What Happened

S&T Bancorp, Inc. (NASDAQ:STBA) reached a new 52-week high during trading on Tuesday . The stock traded as high as $44.03 and last traded at $42.99, with a volume of 63326 shares traded. The stock had previously closed at $43.21.

Analysts Set New Price Targets

Several research firms have recently issued reports on STBA. Keefe, Bruyette & Woods raised their target price on shares of S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Monday, January 26th. Piper Sandler reduced 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 research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.25.

S&T Bancorp Trading Down 0.5%

The stock has a market capitalization of $1.64 billion, a P/E ratio of 12.29 and a beta of 0.93. The stock’s 50 day moving average price is $40.80 and its 200-day moving average price is $38.85. 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 (NASDAQ:STBA) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $105.29 million during the quarter, compared to analyst estimates of $103.46 million. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%. As a group, equities research analysts expect that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, February 12th. S&T Bancorp’s payout ratio is 41.14%.

S&T Bancorp declared that its Board of Directors has initiated a share repurchase program on Thursday, January 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On S&T Bancorp

Several institutional investors have recently bought and sold shares of the company. CWM LLC increased its stake in shares of S&T Bancorp by 2.5% in the fourth quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock worth $438,000 after acquiring an additional 269 shares during the period. Illinois Municipal Retirement Fund increased its holdings in S&T Bancorp by 1.4% in the third quarter. Illinois Municipal Retirement Fund now owns 20,494 shares of the financial services provider’s stock valued at $770,000 after buying an additional 275 shares in the last quarter. GAMMA Investing LLC raised its position in shares of S&T Bancorp by 26.4% in the third quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 316 shares during the period. Amalgamated Bank raised its holdings in S&T Bancorp by 3.4% in the 3rd quarter. Amalgamated Bank now owns 11,313 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 368 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of S&T Bancorp by 41.6% in the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after buying an additional 384 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

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.