S&T Bancorp, Inc. (NASDAQ:STBA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $51.60.

Several analysts have issued reports on the stock. Zacks Research raised shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. DA Davidson boosted their target price on shares of S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Hovde Group restated a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on shares of S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Piper Sandler lifted their price target on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th.

Insider Activity at S&T Bancorp

In related news, Director William Hieb sold 11,979 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total value of $615,001.86. Following the completion of the transaction, the director owned 17,344 shares of the company’s stock, valued at approximately $890,440.96. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On S&T Bancorp

A number of institutional investors have recently made changes to their positions in STBA. Public Employees Retirement System of Ohio bought a new position in S&T Bancorp during the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC grew its holdings in S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 888 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of S&T Bancorp in the 2nd quarter worth about $37,000. Smithfield Trust Co bought a new stake in shares of S&T Bancorp in the 4th quarter worth about $40,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of S&T Bancorp in the 3rd quarter valued at about $50,000. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Stock Down 0.3%

Shares of S&T Bancorp stock opened at $49.99 on Tuesday. The company has a fifty day moving average price of $50.49 and a 200 day moving average price of $46.35. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. S&T Bancorp has a twelve month low of $34.38 and a twelve month high of $53.50. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 13.30 and a beta of 0.84.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data 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. The company had revenue of $105.24 million for the quarter, compared to analyst estimates of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. Equities research analysts forecast that S&T Bancorp will post 3.93 earnings per share for the current fiscal year.

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

S&T Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 18th. S&T Bancorp’s payout ratio is presently 39.36%.

About S&T Bancorp

S&T Bancorp, Inc is the bank holding company for S&T Bank, a full-service community bank headquartered in Indiana, Pennsylvania. Founded in 1902, the company provides banking and financial services to individuals, businesses and institutions.

S&T Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury management and other financial services. Through related businesses and banking divisions, the company also provides wealth management, investment, trust and insurance services.

The company primarily serves communities throughout western Pennsylvania and eastern Ohio through a network of banking offices and digital banking channels.