S&T Bancorp (NASDAQ:STBA) Upgraded at Zacks Research

Zacks Research upgraded shares of S&T Bancorp (NASDAQ:STBA) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other analysts have also recently commented on the company. Piper Sandler dropped their price target on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. 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 report 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. Finally, Keefe, Bruyette & Woods lifted their price target on S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, S&T Bancorp has a consensus rating of “Moderate Buy” and an average price target of $42.25.

S&T Bancorp Stock Up 1.0%

Shares of S&T Bancorp stock opened at $43.93 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $40.95 and a 200 day moving average of $38.92. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 12.55 and a beta of 0.93. S&T Bancorp has a 1 year low of $30.84 and a 1 year high of $44.27.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $105.29 million for the quarter, compared to analyst estimates 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, sell-side analysts anticipate that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp announced that its Board of Directors has approved a share repurchase program on Thursday, January 22nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

S&T Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.3%. S&T Bancorp’s payout ratio is 41.14%.

Institutional Investors Weigh In On S&T Bancorp

A number of large investors have recently added to or reduced their stakes in STBA. Costello Asset Management INC purchased a new position in shares of S&T Bancorp in the 4th quarter worth $26,000. EverSource Wealth Advisors LLC lifted its holdings in S&T Bancorp by 5,223.5% in the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 888 shares during the period. Torren Management LLC purchased a new position in S&T Bancorp in the fourth quarter worth about $37,000. Versant Capital Management Inc grew its stake in shares of S&T Bancorp by 41.6% during the 3rd quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 384 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of S&T Bancorp during the 3rd quarter valued at about $50,000. 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.