Intel stock extends gains after report of possible U.S. government stake
Peter Gurt, a director at S&T Bancorp Inc. (NASDAQ:STBA), recently acquired 125 shares of the company’s common stock, according to a regulatory filing. The shares were purchased at a price of $39.705 each, totaling approximately $4,963. This transaction increases Gurt’s direct ownership to 125 shares in the currently undervalued company, which boasts a 37-year track record of consistent dividend payments and a current dividend yield of 3.4%. Additionally, Gurt holds 957 Director Restricted Stock Units, which are set to vest on May 13, 2025. Upon vesting, these units will convert to common stock, further increasing his stake in the company. Discover more insights about STBA and 1,400+ other stocks with comprehensive Pro Research Reports available on InvestingPro.
In other recent news, S&T Bancorp Inc. reported earnings per share (EPS) of $0.86 for the fourth quarter of 2024, exceeding analysts’ expectations of $0.77. However, the company’s revenue was $94.33 million, falling short of the projected $96.88 million. Despite this revenue miss, the company maintained strong financial metrics, including a return on assets (ROA) of 1.37% and a return on tangible common equity (ROTCE) of 13.25%. The net interest margin slightly decreased to 3.77%. DA Davidson adjusted its price target for S&T Bancorp from $43 to $42 while maintaining a Neutral rating, noting a smaller-than-expected contraction in net interest margin and solid loan growth. The firm also highlighted S&T Bancorp’s potential for growth in 2025 due to recent hiring and deposit initiatives. Additionally, S&T Bancorp is projecting mid-single-digit loan growth in the first half of 2025 and high mid-single-digit growth for the entire year. Analysts at DA Davidson anticipate the company’s returns will align with peers, projecting a 1.75% pre-provision net revenue return on assets for 2026.
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