Shares of S&T Bancorp, Inc. (NASDAQ:STBA – Get Free Report) have been given an average recommendation of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $51.60.
STBA has been the topic of several research reports. Raymond James Financial initiated coverage on shares of S&T Bancorp in a report on Thursday, October 1st. They issued a “market perform” rating on the stock. Wall Street Zen cut shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Piper Sandler upped their price objective on shares of S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods increased 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 research note on Monday, July 27th. Finally, Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th.
View Our Latest Stock Analysis on S&T Bancorp
S&T Bancorp Stock Performance
S&T Bancorp (NASDAQ:STBA – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $104.43 million. As a group, research analysts expect that S&T Bancorp will post 3.95 earnings per share for the current year.
S&T Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, August 18th. S&T Bancorp’s dividend payout ratio (DPR) is currently 39.36%.
S&T Bancorp declared that its board has authorized a share buyback 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 an indication that the company’s management believes its stock is undervalued.
Insider Activity at S&T Bancorp
In other news, Director William Hieb sold 11,979 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total value of $615,001.86. Following the sale, the director owned 17,344 shares in the company, valued at $890,440.96. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.23% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of STBA. Quantinno Capital Management LP raised its position in shares of S&T Bancorp by 220.3% in the first quarter. Quantinno Capital Management LP now owns 67,325 shares of the financial services provider’s stock worth $2,816,000 after acquiring an additional 46,308 shares during the period. Deutsche Bank AG acquired a new stake in shares of S&T Bancorp during the 2nd quarter valued at about $1,990,000. Bank of America Corp DE acquired a new stake in shares of S&T Bancorp during the 2nd quarter valued at about $29,117,000. Arrowstreet Capital Limited Partnership increased its stake in shares of S&T Bancorp by 19.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 123,171 shares of the financial services provider’s stock valued at $5,152,000 after purchasing an additional 20,460 shares in the last quarter. Finally, BlackRock Inc. purchased a new position in shares of S&T Bancorp in the 2nd quarter valued at about $253,047,000. 65.22% of the stock is owned by institutional investors and hedge funds.
About S&T Bancorp
S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania. Its principal subsidiary, S&T Bank, provides banking and financial services to consumers, businesses and institutions.
S&T Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and mortgage services. Through its wealth-management and trust operations, the bank also provides investment management, financial planning, fiduciary and estate-related services.
Founded in 1902, S&T Bancorp serves customers through a network of offices and digital banking channels in western and central Pennsylvania and eastern Ohio.
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