Analysts Set S&T Bancorp, Inc. (NASDAQ:STBA) Target Price at $46.60

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $46.60.

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Piper Sandler lifted their price target on S&T Bancorp from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, June 26th.

S&T Bancorp Stock Performance

NASDAQ STBA opened at $49.60 on Monday. The company’s 50 day moving average is $47.19 and its 200-day moving average is $44.08. S&T Bancorp has a 12-month low of $34.01 and a 12-month high of $51.01. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.78 billion, a P/E ratio of 13.89 and a beta of 0.84.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The company had revenue of $102.08 million during the quarter, compared to the consensus estimate of $103.62 million. Sell-side analysts predict that S&T Bancorp will post 3.75 earnings per share for the current year.

S&T Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.37 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.48 annualized dividend and a yield of 3.0%. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.36. S&T Bancorp’s dividend payout ratio is 41.46%.

Institutional Investors Weigh In On S&T Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Costello Asset Management INC bought a new position in shares of S&T Bancorp in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 888 shares during the period. Torren Management LLC purchased a new stake in S&T Bancorp in the 4th quarter worth approximately $37,000. Smithfield Trust Co purchased a new stake in S&T Bancorp in the 4th quarter worth approximately $40,000. Finally, CIBC Private Wealth Group LLC bought a new position in S&T Bancorp in the 3rd quarter valued at $50,000. 65.22% of the stock is currently owned by 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.