Hsbc Holdings PLC bought a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,347 shares of the financial services provider’s stock, valued at approximately $1,060,000.
Several other large investors also recently bought and sold shares of the company. Strs Ohio purchased a new position in shares of S&T Bancorp in the first quarter valued at $54,000. Inspire Investing LLC raised its stake in shares of S&T Bancorp by 3.6% during the 1st quarter. Inspire Investing LLC now owns 12,270 shares of the financial services provider’s stock worth $513,000 after buying an additional 423 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of S&T Bancorp by 3.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,146 shares of the financial services provider’s stock worth $759,000 after buying an additional 680 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of S&T Bancorp in the 1st quarter worth about $694,000. Finally, SG Americas Securities LLC boosted its position in shares of S&T Bancorp by 20.1% in the 1st 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. Institutional investors and hedge funds own 65.22% of the company’s stock.
Analysts Set New Price Targets
STBA has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research note on Friday. Piper Sandler lifted their target price on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday. DA Davidson upped their price target on shares of S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods increased 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 research report on Monday. Finally, Hovde Group reiterated a “market perform” rating and issued a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.60.
S&T Bancorp Price Performance
Shares of NASDAQ:STBA opened at $53.36 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. The business’s fifty day moving average price is $47.84 and its two-hundred day moving average price is $44.43. The stock has a market cap of $1.92 billion, a PE ratio of 14.19 and a beta of 0.84. S&T Bancorp, Inc. has a one year low of $34.01 and a one year high of $53.50.
S&T Bancorp (NASDAQ:STBA – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%.The company had revenue of $105.24 million during the quarter, compared to analysts’ expectations of $104.43 million. On average, analysts forecast that S&T Bancorp, Inc. will post 3.88 EPS for the current fiscal year.
S&T Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 23rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 5.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
S&T Bancorp Company Profile
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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