S&T Bancorp (NASDAQ:STBA) Hits New 1-Year High on Strong Earnings

S&T Bancorp, Inc. (NASDAQ:STBA) shares reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $51.25 and last traded at $50.7650, with a volume of 274194 shares changing hands. The stock had previously closed at $49.60.

The financial services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. The business had revenue of $105.24 million during the quarter, compared to the consensus estimate of $104.43 million. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.9%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, May 14th. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.46%.

Key S&T Bancorp News

Here are the key news stories impacting S&T Bancorp this week:

• Positive Sentiment: S&T Bancorp reported Q2 earnings of $1.02 per share, beating Wall Street estimates of $0.92, while revenue of $105.24 million also edged above expectations. The results suggest the bank is outperforming consensus and may be benefiting from stable operating trends. Article Title
• Positive Sentiment: The company said net income rose to $36.6 million in Q2 from $35.1 million in Q1 and $31.9 million a year earlier, reinforcing the view that profitability is improving year over year. Article Title
• Positive Sentiment: S&T Bancorp’s board authorized a new $100 million share repurchase program, a shareholder-friendly move that can support earnings per share and signal management confidence in the stock’s value. Article Title
• Neutral Sentiment: Additional coverage this morning focused on the company’s Q2 key metrics and earnings snapshot, but those reports mainly reiterated the stronger-than-expected results rather than introducing new negative developments. Article Title

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STBA shares. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Piper Sandler increased their price objective on shares of S&T Bancorp from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, S&T Bancorp currently has an average rating of “Hold” and a consensus price target of $46.60.

Hedge Funds Weigh In On S&T Bancorp

A number of institutional investors have recently bought and sold shares of STBA. JPMorgan Chase & Co. lifted its position in shares of S&T Bancorp by 37.6% in the third quarter. JPMorgan Chase & Co. now owns 51,208 shares of the financial services provider’s stock valued at $1,925,000 after acquiring an additional 13,988 shares in the last quarter. Denali Advisors LLC lifted its holdings in S&T Bancorp by 43.3% in the 4th quarter. Denali Advisors LLC now owns 127,100 shares of the financial services provider’s stock worth $5,001,000 after purchasing an additional 38,400 shares in the last quarter. Dean Capital Management boosted its stake in S&T Bancorp by 30.3% in the 4th quarter. Dean Capital Management now owns 47,830 shares of the financial services provider’s stock worth $1,882,000 after purchasing an additional 11,132 shares during the period. Louisiana State Employees Retirement System purchased a new stake in S&T Bancorp during the 1st quarter valued at approximately $694,000. Finally, Global Retirement Partners LLC bought a new stake in shares of S&T Bancorp during the fourth quarter valued at approximately $3,052,000. 65.22% of the stock is owned by institutional investors.

S&T Bancorp Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $47.19 and its 200 day moving average price is $44.08. The stock has a market cap of $1.83 billion, a PE ratio of 14.28 and a beta of 0.84.

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.