Piper Sandler Issues Positive Forecast for S&T Bancorp (NASDAQ:STBA) Stock Price

S&T Bancorp (NASDAQ:STBA – Get Free Report) had its target price lifted by analysts at Piper Sandler from $53.00 to $56.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler‘s price target suggests a potential upside of 9.36% from the stock’s current price.

Several other research firms have also weighed in on STBA. DA Davidson lifted their price objective on shares of S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Raymond James Financial started coverage on shares of S&T Bancorp in a research note on Thursday, October 1st. They set a “market perform” rating on the stock. Hovde Group restated a “market perform” rating and issued a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a research note on Thursday. Finally, Zacks Research downgraded shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, S&T Bancorp has a consensus rating of “Hold” and an average target price of $52.20.

Check Out Our Latest Analysis on S&T Bancorp

S&T Bancorp Trading Up 0.9%

Shares of S&T Bancorp stock traded up $0.47 on Monday, hitting $51.20. 6,718 shares of the company’s stock traded hands, compared to its average volume of 253,122. The company has a fifty day moving average of $49.55 and a two-hundred day moving average of $48.01. S&T Bancorp has a one year low of $35.68 and a one year high of $53.50. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 12.99 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.99 and a quick ratio of 0.99.

S&T Bancorp (NASDAQ:STBA – Get Free Report) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. S&T Bancorp had a return on equity of 10.11% and a net margin of 25.10%. The business had revenue of $107.79 million during the quarter, compared to the consensus estimate of $106.72 million. As a group, sell-side analysts expect that S&T Bancorp will post 4.01 earnings per share for the current year.

S&T Bancorp declared that its board has initiated a share repurchase plan on Thursday, July 23rd that authorizes the company to repurchase $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other S&T Bancorp news, Director William Hieb sold 11,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total transaction of $615,001.86. Following the completion of the sale, the director directly owned 17,344 shares of the company’s stock, valued at approximately $890,440.96. The trade was a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of STBA. Public Employees Retirement System of Ohio bought a new position in shares of S&T Bancorp in the second quarter valued at approximately $29,000. Fortitude Family Office LLC bought a new stake in S&T Bancorp during the third quarter worth $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in S&T Bancorp during the second quarter worth $37,000. Strs Ohio bought a new stake in S&T Bancorp during the first quarter worth $54,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in S&T Bancorp in the 2nd quarter valued at $74,000. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Company Profile

(Get Free Report)

S&T Bancorp, Inc is the financial holding company for S&T Bank, a community bank headquartered in Indiana, Pennsylvania. Founded in 1902, S&T Bank serves consumers, businesses, and institutions through a network of banking offices and digital channels.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing, and business loans. It also offers treasury and cash-management services designed to support business customers.

S&T Bank serves communities primarily across western Pennsylvania and eastern Ohio.

See Also

Analyst Recommendations for S&T Bancorp (NASDAQ:STBA)

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