S&T Bancorp, Inc. (NASDAQ:STBA – Get Free Report)’s share price reached a new 52-week high on Wednesday . The company 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
Several research analysts have commented on STBA shares. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research note on Monday, April 27th. Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Piper Sandler boosted their price objective on shares of S&T Bancorp from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.60.
View Our Latest Analysis on S&T Bancorp
S&T Bancorp Stock Up 2.0%
S&T Bancorp (NASDAQ:STBA – Get Free Report) last posted 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. The business had revenue of $102.08 million during the quarter, compared to analysts’ expectations of $103.62 million. S&T Bancorp had a return on equity of 9.35% and a net margin of 23.71%. On average, equities analysts predict that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.
S&T Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a $0.37 dividend. This is an increase 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 of this dividend was Thursday, May 14th. S&T Bancorp’s payout ratio is 41.46%.
Hedge Funds Weigh In On S&T Bancorp
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of S&T Bancorp by 33.5% during the 3rd quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock valued at $17,260,000 after buying an additional 115,333 shares in the last quarter. Jane Street Group LLC purchased a new position in S&T Bancorp in the first quarter worth $4,211,000. Qube Research & Technologies Ltd increased its stake in S&T Bancorp by 58.0% in the third quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock valued at $8,820,000 after acquiring an additional 86,125 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in S&T Bancorp during the fourth quarter valued at about $3,052,000. Finally, State Street Corp raised its position in S&T Bancorp by 3.7% during the fourth quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock valued at $67,815,000 after purchasing an additional 61,800 shares in the last quarter. 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.
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