S&T Bancorp (NASDAQ:STBA) Share Price Passes Above 200-Day Moving Average – What’s Next?

S&T Bancorp, Inc. (NASDAQ:STBA)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.90 and traded as high as $41.30. S&T Bancorp shares last traded at $40.50, with a volume of 329,521 shares.

Analysts Set New Price Targets

Several research analysts recently weighed in on STBA shares. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Monday, January 26th. Zacks Research cut S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Hovde Group lifted their target price on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Finally, DA Davidson initiated coverage on shares of S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.40.

S&T Bancorp Price Performance

The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 11.53 and a beta of 0.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $42.07 and its 200-day moving average price is $39.90.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The company had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $103.46 million. As a group, equities research analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were issued a $0.36 dividend. The ex-dividend date was Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.6%. S&T Bancorp’s dividend payout ratio (DPR) is 41.14%.

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

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dean Capital Management raised its holdings in S&T Bancorp by 30.3% in the fourth quarter. Dean Capital Management now owns 47,830 shares of the financial services provider’s stock valued at $1,882,000 after acquiring an additional 11,132 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in S&T Bancorp during the 4th quarter worth approximately $202,000. XTX Topco Ltd purchased a new stake in shares of S&T Bancorp in the 4th quarter valued at approximately $624,000. Man Group plc acquired a new stake in shares of S&T Bancorp in the 4th quarter valued at $289,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of S&T Bancorp during the 4th quarter worth $243,000. Hedge funds and other institutional investors 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.