S&T Bancorp (NASDAQ:STBA) Given New $52.00 Price Target at Keefe, Bruyette & Woods

S&T Bancorp (NASDAQ:STBA) had its target price increased by Keefe, Bruyette & Woods from $49.00 to $52.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Several other analysts have also commented on STBA. Piper Sandler lifted their price objective on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research report on Friday. Hovde Group reissued a “market perform” rating and set a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research report on Monday. Finally, DA Davidson raised their price target on shares of S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.60.

S&T Bancorp Trading Up 0.7%

Shares of S&T Bancorp stock opened at $52.13 on Monday. The firm has a market cap of $1.88 billion, a PE ratio of 13.86 and a beta of 0.84. S&T Bancorp has a 1 year low of $34.01 and a 1 year high of $52.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a fifty day moving average price of $47.66 and a 200-day moving average price of $44.34.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. The company had revenue of $105.24 million for the quarter, compared to the consensus estimate of $104.43 million. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. Equities research analysts anticipate that S&T Bancorp will post 3.8 EPS for the current year.

S&T Bancorp announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 23rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 5.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued a $0.37 dividend. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.48 annualized dividend and a yield of 2.8%. S&T Bancorp’s payout ratio is 39.36%.

Institutional Investors Weigh In On S&T Bancorp

Several institutional investors have recently added to or reduced their stakes in STBA. GAMMA Investing LLC boosted its position in S&T Bancorp by 16.4% during the second quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 285 shares during the period. Empowered Funds LLC lifted its stake in shares of S&T Bancorp by 4.8% during the 1st quarter. Empowered Funds LLC now owns 169,814 shares of the financial services provider’s stock valued at $7,103,000 after buying an additional 7,819 shares in the last quarter. Amundi lifted its stake in shares of S&T Bancorp by 20.7% during the 1st quarter. Amundi now owns 6,549 shares of the financial services provider’s stock valued at $274,000 after buying an additional 1,124 shares in the last quarter. Royal Bank of Canada boosted its holdings in S&T Bancorp by 5.0% in the 1st quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock worth $238,000 after buying an additional 269 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in S&T Bancorp by 220.3% in the 1st quarter. Quantinno Capital Management LP now owns 67,325 shares of the financial services provider’s stock worth $2,816,000 after buying an additional 46,308 shares during the period. 65.22% of the stock is owned by hedge funds and other institutional investors.

About S&T Bancorp

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.