William Hieb Sells 5,310 Shares of S&T Bancorp (NASDAQ:STBA) Stock

S&T Bancorp, Inc. (NASDAQ:STBA) Director William Hieb sold 5,310 shares of S&T Bancorp stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $51.24, for a total transaction of $272,084.40. Following the completion of the sale, the director directly owned 29,323 shares of the company’s stock, valued at approximately $1,502,510.52. This trade represents a 15.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

S&T Bancorp Price Performance

NASDAQ STBA opened at $51.14 on Friday. The business’s fifty day moving average price is $49.62 and its 200-day moving average price is $45.43. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 13.60 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. S&T Bancorp, Inc. has a 1-year low of $34.38 and a 1-year high of $53.50.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.92 by $0.10. The company had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. On average, equities analysts predict that S&T Bancorp, Inc. will post 3.93 earnings per share for the current year.

S&T Bancorp announced that its board has initiated a share buyback plan on Thursday, July 23rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 5.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 18th. S&T Bancorp’s dividend payout ratio (DPR) is presently 39.36%.

Analyst Upgrades and Downgrades

STBA has been the topic of several recent research reports. DA Davidson increased their price objective on shares of S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Hovde Group restated a “market perform” rating and set a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. Piper Sandler increased their price target on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.60.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STBA. Jupiter Topco LLC purchased a new stake in S&T Bancorp in the 2nd quarter worth approximately $840,000. Canada Pension Plan Investment Board purchased a new position in S&T Bancorp during the second quarter valued at approximately $996,000. Legal & General Group Plc purchased a new position in S&T Bancorp during the second quarter valued at approximately $4,221,000. The Manufacturers Life Insurance Company bought a new position in shares of S&T Bancorp in the second quarter worth approximately $735,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of S&T Bancorp in the second quarter worth approximately $74,000. 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.