S&T Bancorp, Inc. (NASDAQ:STBA – Get Free Report) Director William Hieb sold 11,979 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total value 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. This trade represents a 40.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
S&T Bancorp Trading Up 0.2%
STBA traded up $0.09 on Thursday, hitting $51.56. 223,949 shares of the company were exchanged, compared to its average volume of 253,449. 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 firm has a fifty day simple moving average of $49.39 and a two-hundred day simple moving average of $45.31. The stock has a market capitalization of $1.82 billion, a PE ratio of 13.71 and a beta of 0.85. S&T Bancorp, Inc. has a 12 month low of $34.38 and a 12 month high of $53.50.
S&T Bancorp (NASDAQ:STBA – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, beating 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 firm had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. Sell-side analysts expect that S&T Bancorp, Inc. will post 3.93 earnings per share for the current year.
S&T Bancorp Announces Dividend
S&T Bancorp announced that its board has authorized a share buyback program on Thursday, July 23rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 5.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. DA Davidson lifted their price objective on S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price objective on shares of S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Hovde Group reaffirmed a “market perform” rating and set a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, S&T Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $51.60.
Read Our Latest Research Report on STBA
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in S&T Bancorp during the second quarter worth about $253,047,000. Dimensional Fund Advisors LP lifted its holdings in shares of S&T Bancorp by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,345,177 shares of the financial services provider’s stock valued at $98,098,000 after purchasing an additional 6,583 shares during the last quarter. State Street Corp boosted its position 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 purchasing an additional 61,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of S&T Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,624,436 shares of the financial services provider’s stock worth $63,922,000 after buying an additional 20,411 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in S&T Bancorp by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 958,685 shares of the financial services provider’s stock valued at $37,729,000 after buying an additional 3,388 shares in the last quarter. 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.
Read More
- Five stocks we like better than S&T Bancorp
- Asian Market Circuit Breakers Hit Stocks, Not AI Demand
- Riot Platforms Re-Wires the Ledger for a $9B AI Power Play
- Nebius Just Exploded 34% on Blowout Earnings—Is It Time to Buy?
- Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal
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.
