Analysts Set S&T Bancorp, Inc. (NASDAQ:STBA) PT at $44.40

S&T Bancorp, Inc. (NASDAQ:STBA) has been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $44.40.

Several research analysts recently issued reports on STBA shares. Hovde Group raised their target price on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Janney Montgomery Scott raised 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. DA Davidson assumed coverage on S&T Bancorp in a research note on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective for the company. Finally, Wall Street Zen cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, March 14th.

S&T Bancorp Price Performance

Shares of NASDAQ:STBA opened at $40.14 on Tuesday. S&T Bancorp has a twelve month low of $30.84 and a twelve month high of $44.91. 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 company has a market cap of $1.47 billion, a PE ratio of 11.47 and a beta of 0.92. The company’s 50 day moving average is $42.09 and its 200 day moving average is $39.92.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. On average, sell-side analysts forecast that S&T Bancorp will post 3.05 EPS for the current year.

S&T Bancorp announced that its board has approved a stock buyback plan 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 buy up to 6.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, February 12th. S&T Bancorp’s payout ratio is 41.14%.

Institutional Investors Weigh In On S&T Bancorp

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of 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 in the last quarter. AQR Capital Management LLC boosted its position in S&T Bancorp by 54.9% during the first quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider’s stock worth $1,339,000 after purchasing an additional 12,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 purchasing an additional 1,086 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in S&T Bancorp by 7.5% in 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 valued at $3,884,000 after purchasing an additional 7,286 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of S&T Bancorp in the first quarter valued at approximately $4,211,000. 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.