S&T Bancorp, Inc. (NASDAQ:STBA) Receives $41.00 Average Price Target from Analysts

S&T Bancorp, Inc. (NASDAQ:STBA) has earned an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $42.25.

A number of equities analysts recently commented on the company. Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Piper Sandler reduced their price target on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, October 24th.

S&T Bancorp Stock Performance

NASDAQ STBA opened at $42.64 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp has a twelve month low of $30.84 and a twelve month high of $43.90. The business has a 50-day moving average price of $40.73 and a 200-day moving average price of $38.82. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 12.18 and a beta of 0.93.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $105.29 million for the quarter, compared to analysts’ expectations of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. As a group, equities research analysts predict that S&T Bancorp will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.4%. S&T Bancorp’s dividend payout ratio is presently 41.14%.

S&T Bancorp declared that its Board of Directors has approved a stock repurchase plan on Thursday, January 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On S&T Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC boosted its position in S&T Bancorp by 2.5% during the fourth quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 269 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of S&T Bancorp by 1.4% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 20,494 shares of the financial services provider’s stock worth $770,000 after buying an additional 275 shares during the period. GAMMA Investing LLC lifted its position in shares of S&T Bancorp by 26.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock valued at $57,000 after buying an additional 316 shares in the last quarter. Amalgamated Bank grew its stake in S&T Bancorp by 3.4% in the 3rd quarter. Amalgamated Bank now owns 11,313 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 368 shares during the period. Finally, Versant Capital Management Inc increased its holdings in S&T Bancorp by 41.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 384 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors.

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.