Analysts Set S&T Bancorp, Inc. (NASDAQ:STBA) Price Target at $42.25

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $42.25.

Several analysts recently weighed in on STBA shares. Piper Sandler dropped their target price on shares of S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Monday, January 26th.

S&T Bancorp Stock Up 0.4%

Shares of STBA opened at $44.68 on Friday. The company’s 50-day moving average price is $41.78 and its 200 day moving average price is $39.49. S&T Bancorp has a 12-month low of $30.84 and a 12-month high of $44.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.71 billion, a P/E ratio of 12.77 and a beta of 0.93.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, meeting 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 business had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $103.46 million. On average, sell-side analysts forecast that S&T Bancorp will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.44 annualized dividend and a dividend yield of 3.2%. S&T Bancorp’s dividend payout ratio (DPR) is presently 41.14%.

S&T Bancorp declared that its Board of Directors has authorized a share repurchase plan on Thursday, January 22nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On S&T Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in S&T Bancorp by 10.1% in the 1st quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock valued at $487,000 after purchasing an additional 1,206 shares during the last quarter. AQR Capital Management LLC increased its stake in S&T Bancorp by 54.9% in the first quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider’s stock valued at $1,339,000 after purchasing an additional 12,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of S&T Bancorp by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider’s stock valued at $843,000 after buying an additional 1,086 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of S&T Bancorp by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,837 shares of the financial services provider’s stock worth $3,884,000 after buying an additional 7,286 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of S&T Bancorp during the first quarter worth about $4,211,000. Hedge funds and other institutional investors own 65.22% of the company’s stock.

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.