S&T Bancorp, Inc. (STBA) – What Are Investment Firms Saying About This Stock?

S&T Bancorp, Inc. (NASDAQ:STBA) has been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $52.20.

A number of research analysts recently issued reports on STBA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a report on Thursday, October 22nd. Piper Sandler boosted their target price on S&T Bancorp from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday. Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Zacks Research downgraded S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Finally, Raymond James Financial initiated coverage on S&T Bancorp in a research report on Thursday, October 1st. They issued a “market perform” rating on the stock.

S&T Bancorp Price Performance

Shares of STBA stock opened at $50.59 on Wednesday. The firm has a 50 day moving average of $49.55 and a two-hundred day moving average of $46.22. S&T Bancorp has a 52 week low of $35.68 and a 52 week high of $53.50.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The company had revenue of $107.79 million for the quarter, compared to analysts’ expectations of $106.72 million. As a group, analysts anticipate that S&T Bancorp will post 4.05 EPS for the current year.

S&T Bancorp announced that its board has authorized a share buyback program on Thursday, July 23rd that permits the company to buy back $100 million in shares. This buyback authorization permits the financial services provider to repurchase up to 5.6% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

S&T Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.9%.

Insiders Place Their Bets

In other S&T Bancorp news, Director William Hieb sold 11,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total transaction of $615,001.86. Following the completion of the transaction, the director owned 17,344 shares in the company, valued at $890,440.96. The trade was a 40.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On S&T Bancorp

A number of large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of S&T Bancorp in the 2nd quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in shares of S&T Bancorp during the 3rd quarter worth $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of S&T Bancorp during the 2nd quarter worth $37,000. Strs Ohio purchased a new stake in shares of S&T Bancorp during the 1st quarter worth $54,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of S&T Bancorp during the second quarter worth $74,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Company Profile

S&T Bancorp, Inc is the financial holding company for S&T Bank, a community bank headquartered in Indiana, Pennsylvania. Founded in 1902, S&T Bank serves consumers, businesses, and institutions through a network of banking offices and digital channels.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing, and business loans. It also offers treasury and cash-management services designed to support business customers.

S&T Bank serves communities primarily across western Pennsylvania and eastern Ohio.