S&T Bancorp (NASDAQ:STBA) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

S&T Bancorp, Inc. (NASDAQ:STBA) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $41.50 and traded as high as $44.28. S&T Bancorp shares last traded at $44.27, with a volume of 239,225 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. DA Davidson assumed coverage on shares of S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective for the company. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Finally, Hovde Group boosted their price objective on shares of S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, S&T Bancorp has an average rating of “Hold” and an average target price of $44.40.

S&T Bancorp Trading Up 1.8%

The firm has a market capitalization of $1.62 billion, a PE ratio of 12.59 and a beta of 0.85. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $42.78 and its 200 day simple moving average is $41.62.

S&T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The business had revenue of $102.08 million during the quarter, compared to analysts’ expectations of $103.62 million. On average, sell-side analysts predict that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.

S&T Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.37 per share. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, May 14th. S&T Bancorp’s dividend payout ratio is currently 41.46%.

S&T Bancorp announced that its Board of Directors has approved a share buyback plan on Thursday, January 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of S&T Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Costello Asset Management INC bought a new position in shares of S&T Bancorp during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC boosted its position in shares of S&T Bancorp by 5,223.5% during the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 888 shares during the last quarter. Torren Management LLC bought a new position in shares of S&T Bancorp during the fourth quarter worth $37,000. Smithfield Trust Co bought a new position in S&T Bancorp during the fourth quarter valued at $40,000. Finally, Versant Capital Management Inc lifted its position in S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 384 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

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.