S&T Bancorp (NASDAQ:STBA) Reaches New 52-Week High – Should You Buy?

S&T Bancorp, Inc. (NASDAQ:STBA)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.91 and last traded at $44.24, with a volume of 28232 shares changing hands. The stock had previously closed at $44.06.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Hovde Group raised their target price on S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a research report on Monday. DA Davidson initiated coverage on S&T Bancorp in a report on Wednesday. They issued a “neutral” rating and a $47.00 price target on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Finally, Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.40.

S&T Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day moving average is $41.83 and its 200 day moving average is $39.62. The stock has a market cap of $1.68 billion, a PE ratio of 12.53 and a beta of 0.93.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The firm had revenue of $105.90 million during the quarter, compared to the consensus estimate of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. As a group, research analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.3%. S&T Bancorp’s dividend payout ratio is 41.14%.

S&T Bancorp declared that its Board of Directors has initiated a stock buyback plan on Thursday, January 22nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Dean Capital Management lifted its stake in S&T Bancorp by 30.3% during the fourth quarter. Dean Capital Management now owns 47,830 shares of the financial services provider’s stock worth $1,882,000 after purchasing an additional 11,132 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of S&T Bancorp during the 4th quarter valued at $202,000. XTX Topco Ltd bought a new stake in S&T Bancorp during the 4th quarter worth $624,000. Man Group plc acquired a new position in S&T Bancorp in the 4th quarter worth about $289,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of S&T Bancorp during the fourth quarter valued at about $243,000. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Company Profile

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.