S&T Bancorp, Inc. (NASDAQ:STBA) Receives Consensus Recommendation of “Hold” from Analysts

S&T Bancorp, Inc. (NASDAQ:STBA) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $44.40.

A number of research firms recently commented on STBA. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. DA Davidson began coverage on shares of S&T Bancorp in a research report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price target on the stock. Janney Montgomery Scott raised shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Finally, Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th.

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds have recently bought and sold shares of STBA. Millennium Management LLC increased its holdings in S&T Bancorp by 33.5% in the 3rd quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock valued at $17,260,000 after buying an additional 115,333 shares during the period. Jane Street Group LLC bought a new position in S&T Bancorp in the 1st quarter valued at about $4,211,000. Qube Research & Technologies Ltd increased its holdings in S&T Bancorp by 58.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock valued at $8,820,000 after buying an additional 86,125 shares during the period. Global Retirement Partners LLC bought a new position in S&T Bancorp in the 4th quarter valued at about $3,052,000. Finally, State Street Corp increased its holdings in S&T Bancorp by 3.7% in the 4th quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock valued at $67,815,000 after buying an additional 61,800 shares during the period. 65.22% of the stock is owned by institutional investors.

S&T Bancorp Price Performance

NASDAQ:STBA opened at $44.03 on Wednesday. S&T Bancorp has a 52 week low of $34.01 and a 52 week high of $45.17. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 12.33 and a beta of 0.85. The firm’s 50-day simple moving average is $42.51 and its 200 day simple moving average is $41.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The business had revenue of $102.08 million for the quarter, compared to analyst estimates of $103.62 million. As a group, sell-side analysts predict that S&T Bancorp will post 3.75 earnings per share for the current year.

S&T Bancorp declared that its board has approved a share repurchase program on Thursday, January 22nd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 14th will be given a dividend of $0.37 per share. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, May 14th. S&T Bancorp’s payout ratio is 41.46%.

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.