Brokerages Set S&T Bancorp, Inc. (NASDAQ:STBA) PT at $51.60

S&T Bancorp, Inc. (NASDAQ:STBA) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $51.60.

A number of research analysts have issued reports on the company. Hovde Group reiterated a “market perform” rating and set a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their price objective on shares of S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. DA Davidson upped their price objective on shares of S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Zacks Research upgraded shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th.

Insider Activity

In other news, Director William Hieb sold 11,979 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $51.34, for a total transaction of $615,001.86. Following the completion of the sale, the director owned 17,344 shares in the company, valued at approximately $890,440.96. This represents a 40.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On S&T Bancorp

Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in S&T Bancorp during the second quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in S&T Bancorp during the 2nd quarter worth approximately $37,000. Smithfield Trust Co purchased a new position in S&T Bancorp during the 4th quarter worth approximately $40,000. Strs Ohio purchased a new stake in shares of S&T Bancorp in the first quarter valued at $54,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of S&T Bancorp in the second quarter valued at $74,000. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $50.53 on Tuesday. The company has a market cap of $1.78 billion, a P/E ratio of 13.44 and a beta of 0.84. The business has a 50 day moving average of $50.52 and a two-hundred day moving average of $46.43. S&T Bancorp has a 52 week low of $34.38 and a 52 week high of $53.50. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. The business had revenue of $105.24 million for the quarter, compared to the consensus estimate of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. As a group, analysts anticipate that S&T Bancorp will post 3.93 EPS for the current year.

S&T Bancorp announced that its board has approved a share repurchase program on Thursday, July 23rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 5.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

S&T Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.48 annualized dividend and a dividend yield of 2.9%. S&T Bancorp’s payout ratio is currently 39.36%.

About S&T Bancorp

S&T Bancorp, Inc is the bank holding company for S&T Bank, a full-service community bank headquartered in Indiana, Pennsylvania. Founded in 1902, the company provides banking and financial services to individuals, businesses and institutions.

S&T Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury management and other financial services. Through related businesses and banking divisions, the company also provides wealth management, investment, trust and insurance services.

The company primarily serves communities throughout western Pennsylvania and eastern Ohio through a network of banking offices and digital banking channels.