S&T Bancorp (NASDAQ:STBA) Sets New 1-Year High – Still a Buy?

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) reached a new 52-week high on Monday . The company traded as high as $44.66 and last traded at $44.5750, with a volume of 48162 shares traded. The stock had previously closed at $44.13.

Wall Street Analysts Forecast Growth

STBA has been the topic of several research analyst reports. Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Monday, January 26th. Zacks Research raised shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their price objective on shares of S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, October 24th. Finally, Piper Sandler reduced their price objective on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

S&T Bancorp Stock Up 0.3%

The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 12.65 and a beta of 0.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average price is $41.13 and its 200 day moving average price is $38.99.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates 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 $105.29 million during the quarter, compared to analysts’ expectations of $103.46 million. As a group, research analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.3%. S&T Bancorp’s payout ratio is currently 41.14%.

S&T Bancorp announced that its board has approved a stock repurchase program on Thursday, January 22nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On S&T Bancorp

Several large investors have recently made changes to their positions in STBA. CWM LLC raised its holdings in S&T Bancorp by 2.5% in the 4th quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock valued at $438,000 after buying an additional 269 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of S&T Bancorp by 1.4% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 20,494 shares of the financial services provider’s stock worth $770,000 after acquiring an additional 275 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in S&T Bancorp by 3.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 8,414 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC raised its position in S&T Bancorp by 26.4% in the third quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 316 shares during the period. Finally, Amalgamated Bank grew its stake in shares of S&T Bancorp by 3.4% in the third quarter. Amalgamated Bank now owns 11,313 shares of the financial services provider’s stock valued at $425,000 after buying an additional 368 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

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.