S&T Bancorp (NASDAQ:STBA) Price Target Raised to $47.00 at Hovde Group

S&T Bancorp (NASDAQ:STBA) had its price target raised by Hovde Group from $44.00 to $47.00 in a research note issued to investors on Monday. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s target price suggests a potential upside of 5.19% from the company’s current price.

Several other analysts also recently weighed in on the company. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Piper Sandler reduced their price target on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Janney Montgomery Scott raised shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Monday, January 26th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.75.

S&T Bancorp Stock Performance

S&T Bancorp stock opened at $44.68 on Monday. The company’s 50-day moving average price is $41.78 and its 200-day moving average price is $39.49. 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 has a market cap of $1.71 billion, a PE ratio of 12.77 and a beta of 0.93. S&T Bancorp has a twelve month low of $30.84 and a twelve month high of $44.85.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $103.46 million. On average, equities research analysts forecast that S&T Bancorp will post 3.05 EPS for the current fiscal year.

S&T Bancorp announced that its board has approved a share repurchase program 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 programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of S&T Bancorp

Several large investors have recently added to or reduced their stakes in STBA. Costello Asset Management INC acquired a new stake in S&T Bancorp during the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of S&T Bancorp by 5,223.5% in 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 period. Torren Management LLC purchased a new stake in shares of S&T Bancorp in the fourth quarter worth about $37,000. Smithfield Trust Co acquired a new stake in S&T Bancorp during the fourth quarter worth about $40,000. Finally, Versant Capital Management Inc raised its position in S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

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.