S&T Bancorp, Inc. (NASDAQ:STBA) Receives $44.40 Average Target Price from Brokerages

S&T Bancorp, Inc. (NASDAQ:STBA) has earned an average recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $44.40.

Several research analysts have recently commented on the company. Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Zacks Research lowered S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. DA Davidson assumed coverage on S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. Finally, Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Monday, January 26th.

S&T Bancorp Stock Up 1.7%

Shares of NASDAQ STBA opened at $44.15 on Friday. S&T Bancorp has a 12 month low of $34.01 and a 12 month high of $44.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.61 and a beta of 0.86. The business has a 50-day moving average of $42.41 and a 200-day moving average of $40.44.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The company had revenue of $105.90 million during the quarter, compared to analyst estimates of $103.46 million. Sell-side analysts expect that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.44 annualized dividend and a yield of 3.3%. S&T Bancorp’s dividend payout ratio is currently 41.14%.

S&T Bancorp announced that its Board of Directors has initiated a stock buyback program on Thursday, January 22nd that permits the company to repurchase $100.00 million in 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 usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of S&T Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in S&T Bancorp by 20.1% in the first quarter. SG Americas Securities LLC now owns 26,545 shares of the financial services provider’s stock worth $1,110,000 after buying an additional 4,445 shares in the last quarter. Dean Capital Management boosted its stake in S&T Bancorp by 30.3% in the fourth quarter. Dean Capital Management now owns 47,830 shares of the financial services provider’s stock worth $1,882,000 after buying an additional 11,132 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in S&T Bancorp in the fourth quarter worth approximately $202,000. XTX Topco Ltd purchased a new stake in S&T Bancorp in the fourth quarter worth approximately $624,000. Finally, Man Group plc purchased a new stake in S&T Bancorp in the fourth quarter worth approximately $289,000. Hedge funds and other institutional investors 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.