S&T Bancorp (NASDAQ:STBA) Issues Quarterly Earnings Results

S&T Bancorp (NASDAQ:STBA) issued its earnings results on Thursday. The financial services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89, Zacks reports. The firm had revenue of $105.29 million during the quarter, compared to analyst estimates of $103.46 million. S&T Bancorp had a net margin of 23.72% and a return on equity of 9.32%.

S&T Bancorp Stock Up 4.4%

STBA opened at $41.94 on Thursday. The firm has a market capitalization of $1.60 billion, a P/E ratio of 12.09 and a beta of 0.92. S&T Bancorp has a one year low of $30.84 and a one year high of $42.95. The company has a fifty day moving average price of $40.18 and a 200-day moving average price of $38.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00.

S&T Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, November 13th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.34. S&T Bancorp’s payout ratio is 41.50%.

Analyst Ratings Changes

A number of brokerages recently commented on STBA. Keefe, Bruyette & Woods upped their price target on shares of S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, October 24th. Piper Sandler dropped their target price on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, S&T Bancorp presently has an average rating of “Hold” and an average price target of $41.00.

Insider Activity

In other S&T Bancorp news, Director Jeffrey D. Grube acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was bought at an average price of $36.55 per share, with a total value of $91,375.00. Following the completion of the purchase, the director owned 44,985 shares of the company’s stock, valued at approximately $1,644,201.75. This represents a 5.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On S&T Bancorp

A number of institutional investors have recently added to or reduced their stakes in STBA. Millennium Management LLC boosted its position in shares of S&T Bancorp by 33.5% during the 3rd quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock valued at $17,260,000 after acquiring an additional 115,333 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of S&T Bancorp by 2.5% in the third quarter. Bridgeway Capital Management LLC now owns 299,373 shares of the financial services provider’s stock worth $11,253,000 after purchasing an additional 7,342 shares during the last quarter. Invesco Ltd. raised its stake in S&T Bancorp by 15.9% in the third quarter. Invesco Ltd. now owns 248,346 shares of the financial services provider’s stock valued at $9,335,000 after purchasing an additional 33,995 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in S&T Bancorp by 58.0% during the third quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock valued at $8,820,000 after purchasing an additional 86,125 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in S&T Bancorp by 48.4% in the 3rd quarter. Two Sigma Investments LP now owns 135,174 shares of the financial services provider’s stock worth $5,081,000 after buying an additional 44,058 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors.

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.