Key Points
- Director William Hieb sold 11,979 S&T Bancorp shares at an average price of $51.34, generating approximately $615,002. His remaining direct ownership fell by 40.85% to 17,344 shares.
- S&T Bancorp recently reported quarterly EPS of $1.02, exceeding the $0.92 analyst consensus, on revenue of $105.24 million. The board also authorized a $100 million share-repurchase program, equivalent to up to 5.6% of outstanding shares.
- The stock traded near $51.56, while analysts maintained a generally positive outlook with a consensus rating of “Moderate Buy” and an average price target of $51.60. The company also declared a quarterly dividend of $0.37 per share, yielding approximately 2.9% annually.
S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) Director William Hieb sold 5,310 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $51.24, for a total value of $272,084.40. Following the completion of the transaction, the director directly owned 29,323 shares in the company, valued at approximately $1,502,510.52. This represents a 15.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
S&T Bancorp Stock Performance
Shares of NASDAQ STBA opened at $51.56 on Friday. S&T Bancorp, Inc. has a 12-month low of $34.38 and a 12-month high of $53.50. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 13.71 and a beta of 0.85. 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 50 day moving average of $49.51 and a 200 day moving average of $45.38.
S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. The business had revenue of $105.24 million for 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%. On average, research analysts anticipate that S&T Bancorp, Inc. will post 3.93 earnings per share for the current year.
S&T Bancorp declared that its Board of Directors has approved a share buyback 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 repurchase up to 5.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.
S&T Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 18th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 18th. S&T Bancorp's dividend payout ratio is 39.36%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Costello Asset Management INC bought a new position in S&T Bancorp in the 4th quarter worth $26,000. EverSource Wealth Advisors LLC raised its holdings in S&T Bancorp by 5,223.5% during the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 888 shares during the period. Torren Management LLC bought a new stake in S&T Bancorp during the fourth quarter valued at about $37,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in S&T Bancorp during the second quarter valued at about $37,000. Finally, Smithfield Trust Co purchased a new position in shares of S&T Bancorp in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 65.22% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Hovde Group reissued a "market perform" rating and set a $54.00 price target (up from $47.00) on shares of S&T Bancorp in a report on Monday, July 27th. Piper Sandler raised their price objective on S&T Bancorp from $51.00 to $53.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. DA Davidson lifted their price objective on S&T Bancorp from $47.00 to $53.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of S&T Bancorp in a research note on Friday, July 24th. Finally, Zacks Research raised shares of S&T Bancorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.60.
Get Our Latest Analysis on STBA
S&T Bancorp Company Profile
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Get Free Report)
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.
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