S&T Bancorp (NASDAQ:STBA) Sets New 12-Month High – Still a Buy?

S&T Bancorp, Inc. (NASDAQ:STBA)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $44.83 and last traded at $44.3140, with a volume of 77008 shares. The stock had previously closed at $44.52.

Wall Street Analysts Forecast Growth

STBA has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods increased their price target on shares of S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Piper Sandler decreased their price objective on 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, Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, S&T Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $42.25.

S&T Bancorp Stock Up 0.5%

The company has a market cap of $1.71 billion, a P/E ratio of 12.77 and a beta of 0.93. 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 business’s fifty day moving average is $41.73 and its two-hundred day moving average is $39.39.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $105.90 million for the quarter, compared to analyst estimates of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. Equities analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, February 12th. S&T Bancorp’s dividend payout ratio is currently 41.14%.

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

Institutional Trading of S&T Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new position in S&T Bancorp during the 4th quarter worth about $202,000. XTX Topco Ltd purchased a new stake in shares of S&T Bancorp in the 4th quarter worth approximately $624,000. Man Group plc bought a new position in shares of S&T Bancorp during the fourth quarter valued at approximately $289,000. Engineers Gate Manager LP bought a new position in shares of S&T Bancorp during the fourth quarter valued at approximately $243,000. Finally, AQR Capital Management LLC lifted its holdings in S&T Bancorp by 11.7% during the fourth quarter. AQR Capital Management LLC now owns 104,249 shares of the financial services provider’s stock worth $4,102,000 after buying an additional 10,890 shares during the period. 65.22% of the stock is currently owned by 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.