S&T Bancorp (NASDAQ:STBA) Director William Hieb Sells 5,310 Shares

S&T Bancorp, Inc. (NASDAQ:STBA) Director William Hieb sold 5,310 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $51.24, for a total value of $272,084.40. Following the completion of the sale, the director directly owned 29,323 shares in the company, valued at $1,502,510.52. This trade represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

S&T Bancorp Trading Up 0.2%

NASDAQ STBA opened at $51.56 on Friday. S&T Bancorp, Inc. has a 12 month low of $34.38 and a 12 month high of $53.50. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average price is $49.51 and its 200-day moving average price is $45.38. The stock has a market cap of $1.82 billion, a P/E ratio of 13.71 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $104.43 million. As a group, equities analysts forecast that S&T Bancorp, Inc. will post 3.93 EPS for the current fiscal year.

S&T Bancorp announced that its board has approved a share buyback plan on Thursday, July 23rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

S&T Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 18th. S&T Bancorp’s dividend payout ratio is currently 39.36%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STBA. Keefe, Bruyette & Woods upped their price objective on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. DA Davidson boosted their price target on S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Hovde Group restated a “market perform” rating and issued a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. Finally, Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.60.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Costello Asset Management INC purchased a new stake in S&T Bancorp in the fourth quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in S&T Bancorp during the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC raised 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 valued at $34,000 after buying an additional 888 shares during the last quarter. Torren Management LLC bought a new position in shares of S&T Bancorp during the 4th quarter valued at $37,000. Finally, Smithfield Trust Co bought a new position in shares of S&T Bancorp during the 4th quarter valued at $40,000. 65.22% of the stock is owned by hedge funds and other 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.