S&T Bancorp, Inc. (NASDAQ:STBA) Given Average Recommendation of “Hold” by Analysts

S&T Bancorp, Inc. (NASDAQ:STBA) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $44.40.

STBA has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Hovde Group raised their price target on S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. DA Davidson began coverage on S&T Bancorp in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Zacks Research lowered S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th.

S&T Bancorp Trading Up 0.4%

NASDAQ STBA opened at $45.09 on Friday. The firm has a market cap of $1.62 billion, a P/E ratio of 12.63 and a beta of 0.85. 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 stock’s 50-day moving average is $43.46 and its 200-day moving average is $41.96. S&T Bancorp has a one year low of $34.01 and a one year high of $45.54.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The company had revenue of $102.08 million for the quarter, compared to analyst estimates of $103.62 million. S&T Bancorp had a return on equity of 9.35% and a net margin of 23.71%. Sell-side analysts anticipate that S&T Bancorp will post 3.75 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.48 dividend on an annualized basis and a yield of 3.3%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.36. S&T Bancorp’s payout ratio is 41.46%.

Institutional Investors Weigh In On S&T Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of STBA. Royal Bank of Canada raised its position in 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 during the last quarter. AQR Capital Management LLC boosted its stake in 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 purchasing an additional 12,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 purchasing an additional 1,086 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 purchasing an additional 7,286 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of S&T Bancorp during 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.