S&T Bancorp, Inc. (NASDAQ:STBA) Stock Has Average Target Price of $51.60 According to Analysts

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $51.60.

A number of equities analysts recently weighed in on STBA shares. Keefe, Bruyette & Woods boosted their price target on shares of S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a research report on Friday, July 24th. Zacks Research lowered S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Wall Street Zen lowered shares of S&T Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Raymond James Financial began coverage on S&T Bancorp in a research note on Thursday, October 1st. They issued a “market perform” rating on the stock.

Insider Buying and Selling at S&T Bancorp

In related news, Director William Hieb sold 11,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total value of $615,001.86. Following the completion of the sale, the director owned 17,344 shares in the company, valued at $890,440.96. The trade was a 40.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.23% of the company’s stock.

Institutional Trading of S&T Bancorp

Several hedge funds have recently added to or reduced their stakes in STBA. Royal Bank of Canada boosted its position in shares of S&T Bancorp by 5.0% in the 1st quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 269 shares in the last quarter. Amundi increased its position in S&T Bancorp by 4.2% during the 2nd quarter. Amundi now owns 6,822 shares of the financial services provider’s stock valued at $335,000 after buying an additional 273 shares in the last quarter. GAMMA Investing LLC increased its position in S&T Bancorp by 16.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock valued at $99,000 after buying an additional 285 shares in the last quarter. Inspire Investing LLC increased its position in S&T Bancorp by 3.6% during the 1st quarter. Inspire Investing LLC now owns 12,270 shares of the financial services provider’s stock valued at $513,000 after buying an additional 423 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in S&T Bancorp during the second quarter valued at $29,000. 65.22% of the stock is owned by institutional investors.

S&T Bancorp Price Performance

STBA stock opened at $49.23 on Friday. The company has a market capitalization of $1.74 billion, a P/E ratio of 13.09 and a beta of 0.85. 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 has a 52-week low of $34.38 and a 52-week high of $53.50. The business has a 50-day simple moving average of $50.42 and a two-hundred day simple moving average of $47.27.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. Research analysts expect that S&T Bancorp will post 3.95 EPS for the current fiscal year.

S&T Bancorp announced that its Board of Directors has initiated a stock buyback program on Thursday, July 23rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 5.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. S&T Bancorp’s dividend payout ratio (DPR) is presently 39.36%.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania. Its principal subsidiary, S&T Bank, provides banking and financial services to consumers, businesses and institutions.

S&T Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and mortgage services. Through its wealth-management and trust operations, the bank also provides investment management, financial planning, fiduciary and estate-related services.

Founded in 1902, S&T Bancorp serves customers through a network of offices and digital banking channels in western and central Pennsylvania and eastern Ohio.