S&T Bancorp (STBA) Reaches New 1-Year High and Low Following Insider Buying Activity

S&T Bancorp, Inc. (NASDAQ:STBA)’s share price hit a new 52-week high and low during trading on Wednesday after an insider bought additional shares in the company. The stock traded as low as $44.67 and last traded at $44.48, with a volume of 4731 shares. The stock had previously closed at $43.75.

Specifically, Director Robert Edward Kane acquired 1,000 shares of S&T Bancorp stock in a transaction dated Monday, May 14th. The stock was bought at an average cost of $43.92 per share, with a total value of $43,920.00. Following the completion of the transaction, the director now owns 3,003 shares of the company’s stock, valued at $131,891.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David P. Ruddock sold 1,754 shares of the stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $42.36, for a total value of $74,299.44. Following the completion of the sale, the insider now directly owns 9,000 shares of the company’s stock, valued at $381,240. The disclosure for this sale can be found here. 2.71% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently weighed in on the company. BidaskClub raised S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th. ValuEngine cut S&T Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research cut S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. S&T Bancorp presently has an average rating of “Buy” and an average target price of $43.83.

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 18.20 and a beta of 0.82.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, April 19th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The firm had revenue of $70.72 million during the quarter, compared to analysts’ expectations of $70.31 million. S&T Bancorp had a return on equity of 10.67% and a net margin of 25.00%. equities analysts anticipate that S&T Bancorp, Inc. will post 2.92 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 17th. Investors of record on Thursday, May 3rd were given a $0.25 dividend. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, May 2nd. S&T Bancorp’s dividend payout ratio (DPR) is 40.49%.

S&T Bancorp declared that its Board of Directors has approved a stock repurchase program on Thursday, March 22nd that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently modified their holdings of STBA. Wells Fargo & Company MN lifted its position in S&T Bancorp by 45.1% in the third quarter. Wells Fargo & Company MN now owns 45,416 shares of the financial services provider’s stock worth $1,798,000 after purchasing an additional 14,119 shares during the period. Bank of Montreal Can lifted its position in S&T Bancorp by 85.1% in the fourth quarter. Bank of Montreal Can now owns 39,527 shares of the financial services provider’s stock worth $1,573,000 after purchasing an additional 18,176 shares during the period. Schwab Charles Investment Management Inc. lifted its position in S&T Bancorp by 3.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 179,087 shares of the financial services provider’s stock worth $7,130,000 after purchasing an additional 5,141 shares during the period. Assenagon Asset Management S.A. bought a new position in S&T Bancorp in the fourth quarter worth $3,654,000. Finally, Chicago Equity Partners LLC lifted its position in S&T Bancorp by 17.4% in the fourth quarter. Chicago Equity Partners LLC now owns 41,890 shares of the financial services provider’s stock worth $1,668,000 after purchasing an additional 6,200 shares during the period. 58.91% of the stock is owned by hedge funds and other institutional investors.

About S&T Bancorp

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.

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