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

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $42.25.

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

S&T Bancorp Trading Down 1.0%

NASDAQ:STBA opened at $41.69 on Monday. The company’s 50-day simple moving average is $40.59 and its 200 day simple moving average is $38.78. S&T Bancorp has a one year low of $30.84 and a one year high of $43.90. The firm has a market capitalization of $1.59 billion, a P/E ratio of 11.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00.

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 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 $105.29 million during the quarter, compared to analyst estimates of $103.46 million. As a group, analysts forecast that S&T Bancorp will post 3.05 EPS for the current fiscal year.

S&T Bancorp announced that its board has approved a share repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STBA. EverSource Wealth Advisors LLC lifted its stake in S&T Bancorp by 5,223.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 888 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of S&T Bancorp by 41.6% in the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock worth $49,000 after buying an additional 384 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in S&T Bancorp during the 3rd quarter valued at approximately $50,000. GAMMA Investing LLC increased its stake in S&T Bancorp by 26.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 316 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of S&T Bancorp by 57.7% during the 4th quarter. KBC Group NV now owns 2,277 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 833 shares in the last quarter. 65.22% of the stock is owned by hedge funds and other 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.