S&T Bancorp, Inc. (NASDAQ:STBA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

S&T Bancorp, Inc. (NASDAQ:STBA) has been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $51.60.

Several research firms have weighed in on STBA. Hovde Group reiterated a “market perform” rating and issued a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. Piper Sandler lifted their price target on shares of S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their price objective on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, DA Davidson increased their price objective on S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th.

Insider Buying and Selling at S&T Bancorp

In related news, Director William J. Hieb sold 11,979 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total transaction of $615,001.86. Following the completion of the sale, the director directly owned 17,344 shares of the company’s stock, valued at approximately $890,440.96. This trade represents a 40.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On S&T Bancorp

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of S&T Bancorp by 2.5% in the 4th quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock valued at $438,000 after acquiring an additional 269 shares during the period. Royal Bank of Canada boosted its position in shares of S&T Bancorp by 5.0% during the 1st quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 269 shares during the period. GAMMA Investing LLC increased its holdings in S&T Bancorp by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 285 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in S&T Bancorp by 3.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 8,414 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 300 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in S&T Bancorp by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 10,992 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 345 shares during the period. 65.22% of the stock is currently owned by institutional investors and hedge funds.

S&T Bancorp Stock Up 0.2%

NASDAQ STBA opened at $51.56 on Friday. The business’s fifty day simple moving average is $49.51 and its 200-day simple moving average is $45.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.82 billion, a PE ratio of 13.71 and a beta of 0.85. S&T Bancorp has a 52 week low of $34.38 and a 52 week high of $53.50.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. The firm had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. As a group, equities analysts anticipate that S&T Bancorp will post 3.93 earnings per share for the current year.

S&T Bancorp Announces Dividend

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

S&T Bancorp declared that its Board of Directors has approved a stock buyback plan on Thursday, July 23rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 5.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.