S&T Bancorp (NASDAQ:STBA) Director Sells $615,001.86 in Stock

S&T Bancorp, Inc. (NASDAQ:STBA) Director William Hieb sold 11,979 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total transaction of $615,001.86. Following the sale, the director owned 17,344 shares of the company’s stock, valued at approximately $890,440.96. The trade was a 40.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

S&T Bancorp Stock Down 0.8%

Shares of NASDAQ:STBA opened at $51.14 on Friday. The company’s fifty day moving average is $49.62 and its two-hundred day moving average is $45.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. S&T Bancorp, Inc. has a 1-year low of $34.38 and a 1-year high of $53.50. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 13.60 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.92 by $0.10. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. The business had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. Equities analysts anticipate that S&T Bancorp, Inc. will post 3.93 EPS for the current year.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 18th. S&T Bancorp’s dividend payout ratio is presently 39.36%.

S&T Bancorp announced that its Board of Directors has authorized a share repurchase program on Thursday, July 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 5.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. DA Davidson boosted their price objective 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. Hovde Group reaffirmed a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. Piper Sandler raised their target price on S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. Finally, Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.60.

Hedge Funds Weigh In On S&T Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in S&T Bancorp by 10.1% during the 1st quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock valued at $487,000 after acquiring an additional 1,206 shares in the last quarter. AQR Capital Management LLC boosted its position in S&T Bancorp by 54.9% during the 1st quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider’s stock worth $1,339,000 after acquiring an additional 12,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of S&T Bancorp by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 1,086 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of S&T Bancorp by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,837 shares of the financial services provider’s stock worth $3,884,000 after purchasing an additional 7,286 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of S&T Bancorp during the first quarter valued at $4,211,000. 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.