S&T Bancorp (NASDAQ:STBA) Director Sells $272,084.40 in Stock

S&T Bancorp, Inc. (NASDAQ:STBA) Director William Hieb sold 5,310 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $51.24, for a total transaction of $272,084.40. Following the completion of the sale, the director directly owned 29,323 shares of the company’s stock, valued at approximately $1,502,510.52. This trade represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

S&T Bancorp Price Performance

Shares of STBA stock opened at $51.14 on Friday. The company has a market capitalization of $1.80 billion, a P/E ratio of 13.60 and a beta of 0.85. The company’s 50-day simple moving average is $49.62 and its two-hundred day simple moving average is $45.43. S&T Bancorp, Inc. has a one year low of $34.38 and a one year high of $53.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share 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 the consensus estimate of $104.43 million. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. As a group, equities analysts anticipate that S&T Bancorp, Inc. will post 3.93 EPS for the current year.

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, August 18th. S&T Bancorp’s dividend payout ratio (DPR) is presently 39.36%.

S&T Bancorp declared that its board has approved a stock repurchase program 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 purchase up to 5.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On S&T Bancorp

A number of large investors have recently added to or reduced their stakes in STBA. Odyssean LLC purchased a new stake in shares of S&T Bancorp during the second quarter valued at about $378,000. Man Group plc purchased a new position in shares of S&T Bancorp in the 2nd quarter worth approximately $269,000. Jupiter Topco LLC bought a new position in shares of S&T Bancorp during the 2nd quarter worth approximately $840,000. Canada Pension Plan Investment Board bought a new position in shares of S&T Bancorp during the 2nd quarter worth approximately $996,000. Finally, Legal & General Group Plc bought a new position in shares of S&T Bancorp during the 2nd quarter worth approximately $4,221,000. 65.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on STBA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. Zacks Research upgraded S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price objective on S&T Bancorp from $49.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Hovde Group reaffirmed a “market perform” rating and issued a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. Finally, Piper Sandler upped their price objective on shares of S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.60.

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.