S&T Bancorp (NASDAQ:STBA) Price Target Raised to $52.00

S&T Bancorp (NASDAQ:STBA) had its target price increased by Keefe, Bruyette & Woods from $49.00 to $52.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 0.43% from the company’s previous close.

Several other analysts also recently commented on STBA. Hovde Group reiterated a “market perform” rating and set a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research note on Monday. DA Davidson lifted their price target on shares of S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $53.00 price objective on shares of S&T Bancorp in a research note on Monday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, S&T Bancorp has a consensus rating of “Hold” and a consensus target price of $51.60.

S&T Bancorp Stock Up 0.8%

Shares of STBA stock traded up $0.43 during midday trading on Monday, reaching $52.23. 71,246 shares of the stock were exchanged, compared to its average volume of 252,318. The company’s 50 day moving average is $47.50 and its two-hundred day moving average is $44.25. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.88 billion, a PE ratio of 13.88 and a beta of 0.84. S&T Bancorp has a 1 year low of $34.01 and a 1 year high of $52.78.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10. The firm had revenue of $105.24 million during the quarter, compared to analyst estimates of $104.43 million. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. On average, equities research analysts predict that S&T Bancorp will post 3.8 EPS for the current year.

S&T Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, July 23rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STBA. GAMMA Investing LLC lifted its position in shares of S&T Bancorp by 16.4% in the second quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock worth $99,000 after buying an additional 285 shares in the last quarter. Empowered Funds LLC grew its holdings in S&T Bancorp by 4.8% during the 1st quarter. Empowered Funds LLC now owns 169,814 shares of the financial services provider’s stock valued at $7,103,000 after buying an additional 7,819 shares in the last quarter. Amundi grew its holdings in S&T Bancorp by 20.7% during the 1st quarter. Amundi now owns 6,549 shares of the financial services provider’s stock valued at $274,000 after buying an additional 1,124 shares in the last quarter. Royal Bank of Canada increased its stake in 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 worth $238,000 after acquiring an additional 269 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in S&T Bancorp by 220.3% in the 1st quarter. Quantinno Capital Management LP now owns 67,325 shares of the financial services provider’s stock worth $2,816,000 after acquiring an additional 46,308 shares during the last quarter. Hedge funds and other 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.