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

Shares of S&T Bancorp, Inc. (NASDAQ:STBA) reached a new 52-week high on Friday . The stock traded as high as $45.77 and last traded at $45.6250, with a volume of 44181 shares. The stock had previously closed at $45.34.

Analyst Ratings Changes

A number of research firms recently commented on STBA. Zacks Research cut S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Hovde Group upped their price objective on S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Finally, DA Davidson began coverage on S&T Bancorp in a research report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective for the company. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, S&T Bancorp currently has a consensus rating of “Hold” and a consensus target price of $44.40.

S&T Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day simple moving average of $43.80 and a 200 day simple moving average of $42.15. The firm has a market cap of $1.65 billion, a PE ratio of 12.88 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $102.08 million during the quarter, compared to analysts’ expectations of $103.62 million. S&T Bancorp had a return on equity of 9.35% and a net margin of 23.71%. Equities research analysts forecast that S&T Bancorp, Inc. will post 3.75 EPS for the current year.

S&T Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were given a $0.37 dividend. The ex-dividend date was Thursday, May 14th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 3.2%. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.46%.

Hedge Funds Weigh In On S&T Bancorp

A number of hedge funds have recently made changes to their positions in STBA. Millennium Management LLC boosted its stake in shares of S&T Bancorp by 33.5% in the third quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock worth $17,260,000 after acquiring an additional 115,333 shares during the period. Jane Street Group LLC bought a new position in shares of S&T Bancorp in the first quarter worth about $4,211,000. Qube Research & Technologies Ltd boosted its stake in shares of S&T Bancorp by 58.0% in the third quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock worth $8,820,000 after acquiring an additional 86,125 shares during the period. Global Retirement Partners LLC bought a new position in shares of S&T Bancorp in the fourth quarter worth about $3,052,000. Finally, State Street Corp boosted its stake in shares of S&T Bancorp by 3.7% in the fourth quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock worth $67,815,000 after acquiring an additional 61,800 shares during the period. Institutional investors 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.