S&T Bancorp, Inc. (NASDAQ:STBA – Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $48.70 and last traded at $48.4870, with a volume of 37745 shares traded. The stock had previously closed at $48.16.
Wall Street Analysts Forecast Growth
STBA has been the subject of several analyst reports. Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. DA Davidson assumed coverage on shares of S&T Bancorp in a research report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Finally, Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.40.
Read Our Latest Stock Report on S&T Bancorp
S&T Bancorp Stock Performance
S&T Bancorp (NASDAQ:STBA – Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07. S&T Bancorp had a return on equity of 9.35% and a net margin of 23.71%.The business had revenue of $102.08 million during the quarter, compared to the consensus estimate of $103.62 million. On average, analysts anticipate that S&T Bancorp, Inc. will post 3.75 earnings per share for the current fiscal year.
S&T Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were given a dividend of $0.37 per share. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Thursday, May 14th. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.46%.
Institutional Trading of S&T Bancorp
Several institutional investors have recently modified their holdings of STBA. Costello Asset Management INC purchased a new stake in shares of S&T Bancorp during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake 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 valued at $34,000 after buying an additional 888 shares in the last quarter. Torren Management LLC purchased a new position in S&T Bancorp in the 4th quarter valued at about $37,000. Smithfield Trust Co acquired a new stake in S&T Bancorp in the 4th quarter worth about $40,000. Finally, Strs Ohio acquired a new stake in S&T Bancorp in the 1st quarter worth about $54,000. Institutional investors and hedge funds 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.
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