S&T Bancorp (NASDAQ:STBA) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of S&T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a research report sent to investors on Wednesday, BidAskClub reports.

STBA has been the subject of a number of other research reports. ValuEngine raised S&T Bancorp from a sell rating to a hold rating in a report on Tuesday, October 6th. Raymond James reissued a neutral rating on shares of S&T Bancorp in a report on Thursday, September 10th. Boenning Scattergood initiated coverage on S&T Bancorp in a report on Thursday, September 24th. They issued an outperform rating for the company. Finally, Zacks Investment Research downgraded S&T Bancorp from a hold rating to a strong sell rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. S&T Bancorp presently has an average rating of Hold and a consensus target price of $36.25.

Shares of NASDAQ STBA opened at $21.43 on Wednesday. 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 fifty day moving average price of $19.21 and a 200 day moving average price of $22.14. S&T Bancorp has a 1-year low of $16.98 and a 1-year high of $41.53. The company has a market cap of $841.13 million, a PE ratio of 23.81 and a beta of 0.65.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.04). S&T Bancorp had a return on equity of 7.66% and a net margin of 7.60%. Analysts anticipate that S&T Bancorp will post 1.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Wednesday, November 4th. S&T Bancorp’s payout ratio is 36.25%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of S&T Bancorp by 115.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 557,774 shares of the financial services provider’s stock valued at $13,080,000 after buying an additional 298,571 shares during the period. State Street Corp lifted its stake in S&T Bancorp by 11.4% in the first quarter. State Street Corp now owns 1,325,837 shares of the financial services provider’s stock worth $36,222,000 after purchasing an additional 135,222 shares during the last quarter. Brookstone Capital Management bought a new stake in S&T Bancorp in the third quarter worth $997,000. Macquarie Group Ltd. lifted its stake in S&T Bancorp by 4.0% in the second quarter. Macquarie Group Ltd. now owns 1,283,438 shares of the financial services provider’s stock worth $30,096,000 after purchasing an additional 48,877 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in S&T Bancorp by 7.0% in the first quarter. Geode Capital Management LLC now owns 574,626 shares of the financial services provider’s stock worth $15,698,000 after purchasing an additional 37,416 shares during the last quarter. 59.71% of the stock is currently owned by 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 operates through five segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Consumer Real Estate, and Other Consumer.

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