S&T Bancorp (NASDAQ:STBA) Sets New 52-Week High – Still a Buy?

S&T Bancorp, Inc. (NASDAQ:STBA) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $47.46 and last traded at $47.24, with a volume of 232246 shares changing hands. The stock had previously closed at $46.51.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Hovde Group upped their price objective on shares of S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research note on Monday, April 27th. DA Davidson assumed coverage on shares of S&T Bancorp in a research note on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Zacks Research downgraded shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.40.

S&T Bancorp Stock Up 1.6%

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $44.21 and its 200 day moving average is $42.39. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 13.23 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results 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 firm had revenue of $102.08 million during the quarter, compared to analyst estimates of $103.62 million. Sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.75 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.1%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, May 14th. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.46%.

Hedge Funds Weigh In On S&T Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of STBA. Royal Bank of Canada increased its position in S&T Bancorp by 10.1% during the first quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock worth $487,000 after purchasing an additional 1,206 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of S&T Bancorp by 54.9% in 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. raised its stake in shares of S&T Bancorp by 5.0% in 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 raised its stake in shares of 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 during the period. Finally, Jane Street Group LLC purchased a new position in shares of S&T Bancorp in the 1st quarter valued at $4,211,000. 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 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.