S&T Bancorp (NASDAQ:STBA) Sets New 52-Week High – Still a Buy?

S&T Bancorp, Inc. (NASDAQ:STBA)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $50.10 and last traded at $50.0350, with a volume of 55250 shares changing hands. The stock had previously closed at $49.08.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on STBA shares. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Piper Sandler boosted their price objective on shares of S&T Bancorp from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.60.

S&T Bancorp Stock Performance

The stock has a market cap of $1.80 billion, a PE ratio of 14.00 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day moving average price of $45.49 and a two-hundred day moving average price of $43.16.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The company had revenue of $102.08 million for the quarter, compared to the consensus estimate of $103.62 million. As a group, equities research analysts forecast that S&T Bancorp, Inc. will post 3.75 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were issued a $0.37 dividend. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. S&T Bancorp’s payout ratio is 41.46%.

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of STBA. JPMorgan Chase & Co. grew its stake in shares of S&T Bancorp by 37.6% in the third quarter. JPMorgan Chase & Co. now owns 51,208 shares of the financial services provider’s stock worth $1,925,000 after purchasing an additional 13,988 shares during the last quarter. Denali Advisors LLC raised its position in S&T Bancorp by 43.3% during the 4th quarter. Denali Advisors LLC now owns 127,100 shares of the financial services provider’s stock valued at $5,001,000 after purchasing an additional 38,400 shares during the last quarter. Dean Capital Management raised its position in S&T Bancorp by 30.3% during the 4th quarter. Dean Capital Management now owns 47,830 shares of the financial services provider’s stock valued at $1,882,000 after purchasing an additional 11,132 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in S&T Bancorp in the 4th quarter worth approximately $3,052,000. Finally, Horizon Investments LLC purchased a new stake in S&T Bancorp in the 4th quarter worth approximately $581,000. 65.22% of the stock is owned by institutional investors.

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.