S&T Bancorp, Inc. (NASDAQ:STBA) Given Average Recommendation of “Hold” by Analysts

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $44.40.

Several equities research analysts recently issued reports on the stock. DA Davidson started coverage on shares of S&T Bancorp in a report on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Wall Street Zen cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research downgraded S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Monday, January 26th.

Hedge Funds Weigh In On S&T Bancorp

Several institutional investors have recently made changes to their positions in the business. Public Sector Pension Investment Board increased its holdings in S&T Bancorp by 32.2% during the third quarter. Public Sector Pension Investment Board now owns 172,697 shares of the financial services provider’s stock valued at $6,492,000 after buying an additional 42,015 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of S&T Bancorp in the 2nd quarter worth $3,193,000. Denali Advisors LLC increased its stake in shares of S&T Bancorp by 82.0% in the 3rd quarter. Denali Advisors LLC now owns 88,700 shares of the financial services provider’s stock worth $3,334,000 after purchasing an additional 39,977 shares in the last quarter. Geode Capital Management LLC grew its holdings in S&T Bancorp by 1.0% during the second quarter. Geode Capital Management LLC now owns 955,356 shares of the financial services provider’s stock valued at $36,134,000 after purchasing an additional 9,452 shares during the period. Finally, American Century Companies Inc. increased its position in S&T Bancorp by 0.5% in the second quarter. American Century Companies Inc. now owns 698,519 shares of the financial services provider’s stock worth $26,418,000 after buying an additional 3,613 shares in the last quarter. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Price Performance

STBA opened at $40.17 on Tuesday. The company’s 50-day simple moving average is $42.09 and its two-hundred day simple moving average is $39.92. 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 stock has a market capitalization of $1.47 billion, a P/E ratio of 11.48 and a beta of 0.92. S&T Bancorp has a 52-week low of $30.84 and a 52-week high of $44.91.

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

S&T Bancorp announced that its board has initiated a share buyback plan on Thursday, January 22nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 6.2% 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Thursday, February 12th. S&T Bancorp’s payout ratio is currently 41.14%.

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.