S&T Bancorp (NASDAQ:STBA) Sets New 1-Year High – Time to Buy?

S&T Bancorp, Inc. (NASDAQ:STBA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $50.10 and last traded at $50.0350, with a volume of 55250 shares changing hands. The stock had previously closed at $49.08.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Piper Sandler boosted their price objective on S&T Bancorp from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.60.

S&T Bancorp Price Performance

The stock’s 50-day moving average price is $45.72 and its 200 day moving average price is $43.26. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.76 and a beta of 0.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $102.08 million for the quarter, compared to analyst estimates of $103.62 million. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. Equities research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.48 annualized dividend and a dividend yield of 3.0%. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.36. S&T Bancorp’s payout ratio is presently 41.46%.

Institutional Investors Weigh In On S&T Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its stake in shares of S&T Bancorp by 2.5% during the fourth quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock worth $438,000 after buying an additional 269 shares during the period. Royal Bank of Canada grew its holdings in S&T Bancorp by 5.0% during the 1st quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 269 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in S&T Bancorp by 3.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 8,414 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 300 shares in the last quarter. Captrust Financial Advisors increased its position in shares of S&T Bancorp by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 10,992 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 345 shares during the last quarter. Finally, Inspire Investing LLC increased its position in shares of S&T Bancorp by 3.6% in the 1st quarter. Inspire Investing LLC now owns 12,270 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 423 shares during the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

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.