S&T Bancorp (NASDAQ:STBA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of S&T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a research note released on Sunday morning.

Several other research analysts have also commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. DA Davidson began coverage on S&T Bancorp in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 target price for the company. Hovde Group upped their target price on S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Finally, Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, January 26th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.40.

S&T Bancorp Stock Performance

Shares of STBA opened at $41.08 on Friday. The stock has a market capitalization of $1.50 billion, a PE ratio of 11.74 and a beta of 0.92. The business’s fifty day moving average price is $42.14 and its 200 day moving average price is $39.95. 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 has a 12-month low of $30.84 and a 12-month high of $44.91.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $105.90 million during the quarter, compared to analyst estimates of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. Equities research analysts forecast that S&T Bancorp will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were given a $0.36 dividend. The ex-dividend date was Thursday, February 12th. This represents a $1.44 annualized dividend and a yield of 3.5%. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.14%.

S&T Bancorp announced that its board has authorized a share buyback plan on Thursday, January 22nd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On S&T Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STBA. Royal Bank of Canada boosted its position in S&T Bancorp by 10.1% during the 1st quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock worth $487,000 after acquiring an additional 1,206 shares during the period. AQR Capital Management LLC increased its holdings in shares of S&T Bancorp by 54.9% during the first 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. increased its holdings in shares of S&T Bancorp by 5.0% during the first 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 raised its stake in shares of S&T Bancorp by 7.5% during the first 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 in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of S&T Bancorp during the first quarter valued at about $4,211,000. 65.22% of the stock is 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.