Brokerages Set S&T Bancorp, Inc. (NASDAQ:STBA) PT at $41.00

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) have received an average recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $42.25.

STBA has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their target price on shares of S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday. Piper Sandler cut their target price on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th.

Hedge Funds Weigh In On S&T Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of S&T Bancorp by 10.1% in the 1st quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock valued at $487,000 after buying an additional 1,206 shares in the last quarter. AQR Capital Management LLC grew its stake in S&T Bancorp by 54.9% in the first 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. increased its holdings in shares of S&T Bancorp by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider’s stock worth $843,000 after acquiring an additional 1,086 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of S&T Bancorp by 7.5% in the first 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 worth $3,884,000 after acquiring an additional 7,286 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of S&T Bancorp during the first quarter worth about $4,211,000. 65.22% of the stock is owned by institutional investors.

S&T Bancorp Stock Performance

S&T Bancorp stock opened at $42.64 on Monday. The company has a market cap of $1.63 billion, a PE ratio of 12.18 and a beta of 0.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp has a 1 year low of $30.84 and a 1 year high of $43.90. The company’s 50-day moving average is $40.73 and its two-hundred day moving average is $38.82.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. The business had revenue of $105.29 million during the quarter, compared to the consensus estimate of $103.46 million. Equities analysts anticipate that S&T Bancorp will post 3.05 earnings per share for the current year.

S&T Bancorp declared that its Board of Directors has initiated a share buyback plan on Thursday, January 22nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a yield of 3.4%. S&T Bancorp’s payout ratio is currently 41.14%.

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.