S&T Bancorp (NASDAQ:STBA) Sets New 12-Month High – Still a Buy?

S&T Bancorp, Inc. (NASDAQ:STBA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $44.83 and last traded at $44.3140, with a volume of 77008 shares trading hands. The stock had previously closed at $44.52.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on STBA shares. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Monday, January 26th. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods increased their price target on S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Finally, Piper Sandler lowered their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.25.

S&T Bancorp Stock Performance

The business’s 50-day moving average price is $41.73 and its 200-day moving average price is $39.39. The stock has a market cap of $1.71 billion, a P/E ratio of 12.77 and a beta of 0.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The firm had revenue of $105.90 million for the quarter, compared to the consensus estimate of $103.46 million. As a group, sell-side analysts expect that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Thursday, February 12th. S&T Bancorp’s dividend payout ratio is presently 41.14%.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Costello Asset Management INC bought a new position in shares of S&T Bancorp in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC grew its holdings in S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after buying an additional 888 shares in the last quarter. Torren Management LLC bought a new stake in shares of S&T Bancorp during the fourth quarter valued at approximately $37,000. Smithfield Trust Co purchased a new position in shares of S&T Bancorp in the fourth quarter worth $40,000. Finally, Versant Capital Management Inc grew its stake in S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 384 shares in the last quarter. Institutional investors 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.