DA Davidson Initiates Coverage on S&T Bancorp (NASDAQ:STBA)

DA Davidson started coverage on shares of S&T Bancorp (NASDAQ:STBA) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set a “neutral” rating and a $47.00 price target on the financial services provider’s stock. DA Davidson’s target price would indicate a potential upside of 6.89% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Hovde Group raised their target price on S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday. 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. Finally, Zacks Research raised shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.40.

S&T Bancorp Stock Performance

STBA opened at $43.97 on Wednesday. S&T Bancorp has a twelve month low of $30.84 and a twelve month high of $44.91. The firm has a market capitalization of $1.68 billion, a PE ratio of 12.56 and a beta of 0.93. 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’s 50-day moving average price is $41.87 and its 200 day moving average price is $39.65.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. The company had revenue of $105.90 million during the quarter, compared to the consensus estimate 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 expect that S&T Bancorp will post 3.05 EPS for the current fiscal year.

S&T Bancorp declared that its board has authorized a share buyback program on Thursday, January 22nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

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

More S&T Bancorp News

Here are the key news stories impacting S&T Bancorp this week:

• Positive Sentiment: Hovde Group told investors it expects STBA’s stock price to rise, a bullish institutional view that can support demand among value-oriented investors. S&T Bancorp (NASDAQ:STBA) Stock Price Expected to Rise, Hovde Group Analyst Says
• Positive Sentiment: Zacks published a feature framing S&T as an attractive dividend stock today, which may draw income-focused buyers. Why S&T Bancorp (STBA) is a Great Dividend Stock Right Now
• Positive Sentiment: DA Davidson initiated coverage with a neutral/hold rating but set a $47 price target (about mid-single-digit upside vs. current levels), which can be interpreted as modest upside support for the shares. S&T Bancorp is now covered by analysts at DA Davidson (Benzinga)
• Neutral Sentiment: Multiple outlets reported DA Davidson’s coverage initiation (neutral/hold). Coverage brings more analyst attention and may increase trading interest without delivering a strongly bullish endorsement. S&T Bancorp Now Covered by Analysts at DA Davidson
• Negative Sentiment: Short interest rose sharply in February — up ~23% to 990,349 shares (about 2.6% of float) with a short-interest ratio near 4.5 days — indicating increased bearish bets that can weigh on the stock or amplify volatility.
• Negative Sentiment: One brokerage published a $42.25 price target, below the current share price, signaling at least one analyst view that sees limited near-term upside. Brokerages Set S&T Bancorp, Inc. (NASDAQ:STBA) PT at $42.25

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.