S & T Bancorp (STBA) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of S & T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

According to Zacks, “S & T BANCORP, INC. is a bank holding company which is engaged in general banking business. The Bank is a full service bank with its main office in Indiana, Pennsylvania, providing service to its customers through a branch of 34 offices located in Armstrong, Allegheny, Indiana, Jefferson, Clearfield and Westmoreland counties. The Bank’s services include accepting time and demand deposit accounts, making secured and unsecured commercial and consumer loans, providing letters of credit, and offering discount brokerage services, personal financial planning and credit card services. “

STBA has been the subject of several other research reports. BidaskClub downgraded S & T Bancorp from a hold rating to a sell rating in a research note on Saturday, March 9th. Boenning Scattergood reaffirmed a hold rating on shares of S & T Bancorp in a report on Thursday, January 31st. Finally, ValuEngine raised S & T Bancorp from a sell rating to a hold rating in a report on Saturday, May 4th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $51.00.

Shares of NASDAQ:STBA opened at $38.07 on Thursday. S & T Bancorp has a twelve month low of $35.16 and a twelve month high of $47.77. The company has a market cap of $1.32 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.30 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12.

S & T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). S & T Bancorp had a net margin of 29.41% and a return on equity of 11.02%. The business had revenue of $71.72 million for the quarter, compared to the consensus estimate of $72.39 million. On average, equities research analysts forecast that S & T Bancorp will post 2.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.08 annualized dividend and a yield of 2.84%. S & T Bancorp’s dividend payout ratio (DPR) is 35.88%.

In other news, Director James Thomas Gibson purchased 12,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was purchased at an average price of $38.89 per share, with a total value of $466,680.00. Following the acquisition, the director now directly owns 201,780 shares in the company, valued at approximately $7,847,224.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of STBA. Renaissance Technologies LLC raised its holdings in shares of S & T Bancorp by 60.3% in the 3rd quarter. Renaissance Technologies LLC now owns 10,100 shares of the financial services provider’s stock worth $438,000 after buying an additional 3,800 shares in the last quarter. Morgan Stanley raised its holdings in shares of S & T Bancorp by 62.9% in the 3rd quarter. Morgan Stanley now owns 169,891 shares of the financial services provider’s stock worth $7,367,000 after buying an additional 65,605 shares in the last quarter. Huntington National Bank acquired a new position in shares of S & T Bancorp in the 4th quarter worth approximately $57,000. Arizona State Retirement System raised its holdings in shares of S & T Bancorp by 6.2% in the 4th quarter. Arizona State Retirement System now owns 53,910 shares of the financial services provider’s stock worth $2,040,000 after buying an additional 3,125 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of S & T Bancorp by 1.2% in the 4th quarter. Advisors Asset Management Inc. now owns 29,512 shares of the financial services provider’s stock worth $1,117,000 after buying an additional 342 shares in the last quarter. 60.27% of the stock is owned by institutional investors and hedge funds.

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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