Equities researchers at DA Davidson began coverage on shares of S & T Bancorp (NASDAQ:STBA) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $54.00 price target on the financial services provider’s stock. DA Davidson’s price objective points to a potential upside of 13.61% from the stock’s previous close.

STBA has been the topic of a number of other reports. Boenning Scattergood reaffirmed a “hold” rating on shares of S & T Bancorp in a research note on Monday, June 4th. BidaskClub cut shares of S & T Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research raised shares of S & T Bancorp from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, August 7th. Finally, ValuEngine raised shares of S & T Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $46.88.

NASDAQ:STBA opened at $47.53 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. S & T Bancorp has a fifty-two week low of $33.92 and a fifty-two week high of $47.70. The firm has a market cap of $1.63 billion, a PE ratio of 19.18 and a beta of 0.67.

S & T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. S & T Bancorp had a net margin of 24.39% and a return on equity of 10.41%. The business had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $70.06 million. equities research analysts expect that S & T Bancorp will post 2.87 earnings per share for the current fiscal year.

In related news, Director Frank W. Jones sold 600 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $45.58, for a total value of $27,348.00. Following the sale, the director now directly owns 24,387 shares of the company’s stock, valued at approximately $1,111,559.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Christina Anne Cassotis acquired 1,457 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was acquired at an average cost of $46.49 per share, for a total transaction of $67,735.93. Following the completion of the purchase, the director now owns 1,636 shares in the company, valued at approximately $76,057.64. The disclosure for this purchase can be found here. 2.71% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its stake in S & T Bancorp by 8.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 24,369 shares of the financial services provider’s stock valued at $1,054,000 after acquiring an additional 1,940 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of S & T Bancorp by 143.5% during the 2nd quarter. California Public Employees Retirement System now owns 79,449 shares of the financial services provider’s stock worth $3,435,000 after purchasing an additional 46,820 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of S & T Bancorp during the 2nd quarter worth about $231,000. Bank of America Corp DE boosted its stake in shares of S & T Bancorp by 45.7% during the 2nd quarter. Bank of America Corp DE now owns 46,340 shares of the financial services provider’s stock worth $2,004,000 after purchasing an additional 14,544 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in shares of S & T Bancorp during the 2nd quarter worth about $205,000. 59.30% of the stock is currently owned by hedge funds and other institutional investors.

S & T Bancorp Company Profile

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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