Shares of S&T Bancorp, Inc. (NASDAQ:STBA – Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $47.46 and last traded at $47.24, with a volume of 232246 shares trading hands. The stock had previously closed at $46.51.
Analysts Set New Price Targets
STBA has been the topic of a number of research reports. Hovde Group raised their target price on shares of S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Zacks Research downgraded shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research note on Monday, April 27th. Finally, DA Davidson initiated coverage on shares of S&T Bancorp in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, S&T Bancorp presently has an average rating of “Hold” and a consensus price target of $44.40.
View Our Latest Analysis on S&T Bancorp
S&T Bancorp Stock Performance
S&T Bancorp (NASDAQ:STBA – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $102.08 million during the quarter, compared to analyst estimates of $103.62 million. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. Analysts forecast that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.
S&T Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. S&T Bancorp’s dividend payout ratio (DPR) is 41.46%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in shares of S&T Bancorp by 33.5% in the 3rd quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock worth $17,260,000 after acquiring an additional 115,333 shares during the period. Jane Street Group LLC acquired a new stake in shares of S&T Bancorp in the 1st quarter worth about $4,211,000. Qube Research & Technologies Ltd increased its holdings in shares of S&T Bancorp by 58.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock worth $8,820,000 after acquiring an additional 86,125 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of S&T Bancorp in the 4th quarter worth about $3,052,000. Finally, State Street Corp increased its holdings in shares of S&T Bancorp by 3.7% in the 4th quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock worth $67,815,000 after acquiring an additional 61,800 shares during the period. 65.22% of the stock is currently owned by institutional investors.
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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