S&T Bancorp, Inc. (NASDAQ:STBA) Given Average Rating of “Moderate Buy” by Analysts

S&T Bancorp, Inc. (NASDAQ:STBA) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $51.60.

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research note on Friday, July 24th. Piper Sandler lifted their target price on S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. DA Davidson boosted their price target on S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Hovde Group restated a “market perform” rating and issued a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th.

S&T Bancorp Trading Up 0.2%

Shares of STBA stock opened at $50.20 on Friday. The firm’s 50-day simple moving average is $49.93 and its 200-day simple moving average is $45.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. S&T Bancorp has a 1-year low of $34.38 and a 1-year high of $53.50. The firm has a market cap of $1.77 billion, a P/E ratio of 13.35 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The firm had revenue of $105.24 million during the quarter, compared to the consensus estimate of $104.43 million. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. As a group, equities analysts forecast that S&T Bancorp will post 3.93 EPS for the current year.

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 issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.9%. S&T Bancorp’s payout ratio is presently 39.36%.

S&T Bancorp announced that its board has initiated a share buyback program on Thursday, July 23rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to buy up to 5.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

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

Institutional Investors Weigh In On S&T Bancorp

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in shares of S&T Bancorp during the 2nd quarter valued at $29,000. Costello Asset Management INC purchased a new stake in S&T Bancorp during the 4th quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in S&T Bancorp in the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 888 shares in the last quarter. Finally, Torren Management LLC purchased a new position in S&T Bancorp in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

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.