Keefe, Bruyette & Woods Lowers S&T Bancorp (NASDAQ:STBA) Price Target to $43.00

S&T Bancorp (NASDAQ:STBA) had its price target cut by Keefe, Bruyette & Woods from $44.00 to $43.00 in a research report released on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

S&T Bancorp Price Performance

Shares of S&T Bancorp stock opened at $36.44 on Monday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 10.69 and a beta of 0.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $36.74 and its 200 day moving average price is $38.88. S&T Bancorp has a twelve month low of $29.85 and a twelve month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. The business had revenue of $93.75 million during the quarter, compared to analysts’ expectations of $96.40 million. As a group, research analysts anticipate that S&T Bancorp will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.73%. S&T Bancorp’s dividend payout ratio (DPR) is 39.19%.

Insider Activity at S&T Bancorp

In other news, Director Bhaskar Ramachandran bought 764 shares of S&T Bancorp stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $39.25 per share, with a total value of $29,987.00. Following the completion of the transaction, the director now owns 1,251 shares in the company, valued at approximately $49,101.75. This trade represents a 156.88 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.23% of the stock is owned by insiders.

Hedge Funds Weigh In On S&T Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of S&T Bancorp by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider’s stock worth $176,453,000 after buying an additional 160,453 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of S&T Bancorp by 333.4% during the 4th quarter. JPMorgan Chase & Co. now owns 150,183 shares of the financial services provider’s stock worth $5,740,000 after purchasing an additional 115,528 shares during the period. Norges Bank acquired a new position in S&T Bancorp during the 4th quarter valued at approximately $4,181,000. Northern Trust Corp boosted its position in S&T Bancorp by 21.7% during the 4th quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider’s stock valued at $18,476,000 after purchasing an additional 86,317 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in S&T Bancorp during the 4th quarter worth $3,297,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.