First Trust Advisors LP boosted its holdings in S&T Bancorp, Inc. (NASDAQ:STBA – Free Report) by 9.4% in the first quarter, HoldingsChannel reports. The firm owned 123,245 shares of the financial services provider’s stock after purchasing an additional 10,622 shares during the period. First Trust Advisors LP’s holdings in S&T Bancorp were worth $5,155,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC bought a new position in shares of S&T Bancorp during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 888 shares during the period. Torren Management LLC bought a new stake in shares of S&T Bancorp in the 4th quarter valued at $37,000. Smithfield Trust Co bought a new stake in shares of S&T Bancorp in the 4th quarter valued at $40,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of S&T Bancorp during the 3rd quarter valued at $50,000. 65.22% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
STBA has been the topic of several research analyst reports. Piper Sandler increased 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 note on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research report on Friday, July 24th. Keefe, Bruyette & Woods raised their target price on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Hovde Group reaffirmed a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. Finally, Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, S&T Bancorp presently has an average rating of “Moderate Buy” and an average price target of $51.60.
S&T Bancorp Trading Up 0.4%
STBA opened at $52.38 on Tuesday. S&T Bancorp, Inc. has a fifty-two week low of $34.38 and a fifty-two week high of $53.50. The firm has a market capitalization of $1.88 billion, a PE ratio of 13.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50-day moving average is $48.44 and its 200 day moving average is $44.79.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The business had revenue of $105.24 million during the quarter, compared to the consensus estimate of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. As a group, research analysts predict that S&T Bancorp, Inc. will post 3.93 earnings per share for the current fiscal year.
S&T Bancorp announced that its Board of Directors has initiated a stock buyback program on Thursday, July 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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.
Read More
- Five stocks we like better than S&T Bancorp
- SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control
- Why Rare Earth Processing Could Be the Real 2027 Opportunity
- The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure
- TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks?
Want to see what other hedge funds are holding STBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&T Bancorp, Inc. (NASDAQ:STBA – Free Report).
Receive News & Ratings for S&T Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&T Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
