S&T Bancorp (NASDAQ:STBA) Reaches New 12-Month High – Still a Buy?

S&T Bancorp, Inc. (NASDAQ:STBA) reached a new 52-week high on Friday . The stock traded as high as $45.77 and last traded at $45.6250, with a volume of 44181 shares trading hands. The stock had previously closed at $45.34.

Analysts Set New Price Targets

Several research firms have commented on STBA. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Hovde Group boosted their target price on S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. DA Davidson began coverage on S&T Bancorp in a report on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Zacks Research downgraded S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.40.

S&T Bancorp Stock Up 1.3%

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 company has a fifty day simple moving average of $43.80 and a 200 day simple moving average of $42.15. The firm has a market capitalization of $1.65 billion, a P/E ratio of 12.88 and a beta of 0.85.

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

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a $0.37 dividend. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, May 14th. S&T Bancorp’s dividend payout ratio (DPR) is presently 41.46%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of S&T Bancorp by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,345,177 shares of the financial services provider’s stock worth $98,098,000 after purchasing an additional 6,583 shares during the last quarter. State Street Corp raised its stake in shares of S&T Bancorp by 3.7% in the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of S&T Bancorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,624,436 shares of the financial services provider’s stock worth $63,922,000 after purchasing an additional 20,411 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of S&T Bancorp by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 958,685 shares of the financial services provider’s stock worth $37,729,000 after purchasing an additional 3,388 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of S&T Bancorp by 33.5% in the third quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock worth $17,260,000 after purchasing an additional 115,333 shares during the last quarter. Hedge funds and other 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.