S&T Bancorp, Inc. (NASDAQ:STBA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $42.25.

Several equities research analysts recently weighed in on the stock. Piper Sandler dropped their price objective 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. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday, January 26th. Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods increased their target price on S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STBA. Costello Asset Management INC acquired a new stake in shares of S&T Bancorp in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew 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 worth $34,000 after buying an additional 888 shares in the last quarter. Torren Management LLC acquired a new stake in S&T Bancorp in the 4th quarter valued at approximately $37,000. Smithfield Trust Co acquired a new stake in S&T Bancorp in the 4th quarter valued at approximately $40,000. Finally, Versant Capital Management Inc raised its stake in S&T Bancorp by 41.6% during the 3rd 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. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Stock Performance

Shares of STBA opened at $44.52 on Friday. The stock has a market capitalization of $1.70 billion, a PE ratio of 12.72 and a beta of 0.93. The business’s fifty day moving average price is $41.73 and its 200 day moving average price is $39.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. S&T Bancorp has a 12-month low of $30.84 and a 12-month high of $44.80.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. The company had revenue of $105.90 million for the quarter, compared to analysts’ expectations of $103.46 million. Equities research analysts forecast that S&T Bancorp will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders 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 annualized dividend and a dividend yield of 3.2%. S&T Bancorp’s dividend payout ratio is currently 41.14%.

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

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.