Zacks Investment Research upgraded shares of S&T Bancorp Inc. (NASDAQ:STBA) from a sell rating to a hold rating in a report issued on Friday.

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. “

S&T Bancorp (NASDAQ:STBA) opened at 28.58 on Friday. The company has a 50 day moving average price of $27.63 and a 200-day moving average price of $25.94. S&T Bancorp has a 12-month low of $23.06 and a 12-month high of $34.00. The company has a market capitalization of $997.90 million, a PE ratio of 14.37 and a beta of 1.14.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. S&T Bancorp had a return on equity of 8.61% and a net margin of 25.47%. On average, analysts anticipate that S&T Bancorp will post $1.96 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in STBA. Royal Bank of Canada raised its stake in S&T Bancorp by 262.2% in the first quarter. Royal Bank of Canada now owns 19,389 shares of the financial services provider’s stock valued at $499,000 after buying an additional 14,036 shares during the period. Arizona State Retirement System raised its stake in S&T Bancorp by 4.7% in the first quarter. Arizona State Retirement System now owns 17,921 shares of the financial services provider’s stock valued at $462,000 after buying an additional 800 shares during the period. Legal & General Group Plc raised its stake in S&T Bancorp by 45.5% in the first quarter. Legal & General Group Plc now owns 8,727 shares of the financial services provider’s stock valued at $224,000 after buying an additional 2,727 shares during the period. Geode Capital Management LLC raised its stake in S&T Bancorp by 4.6% in the first quarter. Geode Capital Management LLC now owns 264,215 shares of the financial services provider’s stock valued at $6,806,000 after buying an additional 11,606 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in S&T Bancorp by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 53,225 shares of the financial services provider’s stock valued at $1,371,000 after buying an additional 4,748 shares during the period. 50.73% of the stock is currently owned by institutional investors.

S&T Bancorp Company Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through its three subsidiaries: S&T Bank, 9th Street Holdings, Inc and STBA Capital Trust I. S&T operates in three segments: Community Banking, Wealth Management and Insurance. The Company’s community banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans.

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