S&T Bancorp (NASDAQ:STBA) Stock Rating Upgraded by Zacks Research

S&T Bancorp (NASDAQ:STBA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

STBA has been the topic of several other reports. DA Davidson increased their price target on S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Hovde Group reissued a “market perform” rating and issued a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a report on Monday. Keefe, Bruyette & Woods upped their target price on S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. Finally, Piper Sandler lifted their price target on S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, S&T Bancorp has an average rating of “Moderate Buy” and a consensus target price of $51.60.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA opened at $52.95 on Tuesday. The company has a 50 day simple moving average of $48.00 and a two-hundred day simple moving average of $44.52. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 14.08 and a beta of 0.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. S&T Bancorp has a 12 month low of $34.01 and a 12 month high of $53.50.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. The firm had revenue of $105.24 million for the quarter, compared to analyst estimates of $104.43 million. As a group, analysts predict that S&T Bancorp will post 3.93 earnings per share for the current year.

S&T Bancorp announced that its board has approved a stock buyback plan on Thursday, July 23rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 5.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. CWM LLC boosted its stake in shares of S&T Bancorp by 2.5% during the 4th quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock worth $438,000 after acquiring an additional 269 shares in the last quarter. Royal Bank of Canada increased its stake in shares of S&T Bancorp by 5.0% in the 1st quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 269 shares in the last quarter. GAMMA Investing LLC raised its holdings in S&T Bancorp by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 285 shares during the period. HBK Sorce Advisory LLC raised its holdings in S&T Bancorp by 3.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 8,414 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 300 shares during the period. Finally, Captrust Financial Advisors boosted its position in S&T Bancorp by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 10,992 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 345 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

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.