S&T Bancorp (NASDAQ:STBA) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

S&T Bancorp (NASDAQ:STBA) had its target price boosted by equities researchers at Keefe, Bruyette & Woods from $49.00 to $52.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 0.43% from the company’s current price.

STBA has been the subject of a number of other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a research note on Friday. Piper Sandler reissued a “neutral” rating and issued a $53.00 price objective on shares of S&T Bancorp in a research note on Monday. Hovde Group restated a “market perform” rating and set a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research report on Monday. Finally, DA Davidson upped their target price on S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.60.

S&T Bancorp Trading Up 0.8%

STBA stock traded up $0.43 during midday trading on Monday, reaching $52.23. 71,246 shares of the company traded hands, compared to its average volume of 252,318. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 13.88 and a beta of 0.84. S&T Bancorp has a 52-week low of $34.01 and a 52-week high of $52.78. The business has a 50 day moving average of $47.50 and a 200-day moving average of $44.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%.The firm had revenue of $105.24 million for the quarter, compared to the consensus estimate of $104.43 million. As a group, sell-side analysts expect that S&T Bancorp will post 3.8 earnings per share for the current fiscal year.

S&T Bancorp announced that its Board of Directors has authorized a share repurchase program on Thursday, July 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of S&T Bancorp

Several hedge funds have recently modified their holdings of STBA. Costello Asset Management INC purchased a new stake in S&T Bancorp during the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its stake in S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after buying an additional 888 shares during the last quarter. Torren Management LLC acquired a new position in S&T Bancorp during the 4th quarter valued at about $37,000. Smithfield Trust Co purchased a new stake in S&T Bancorp in the fourth quarter valued at about $40,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in S&T Bancorp in the third quarter worth about $50,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

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.