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 Friday morning.

STBA has been the topic of a number of other research reports. 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 report on Tuesday, August 7th. DA Davidson began coverage on shares of S & T Bancorp in a report on Thursday, August 23rd. They set a buy rating and a $54.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. S & T Bancorp has an average rating of Hold and a consensus target price of $47.13.

STBA stock traded up $0.06 during trading on Friday, reaching $41.68. 89,641 shares of the company were exchanged, compared to its average volume of 104,451. The company has a market cap of $1.46 billion, a P/E ratio of 16.87 and a beta of 0.61. S & T Bancorp has a 52-week low of $37.79 and a 52-week high of $47.77. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

S & T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $71.30 million for the quarter, compared to the consensus estimate of $72.99 million. S & T Bancorp had a net margin of 26.45% and a return on equity of 11.23%. On average, equities research analysts expect that S & T Bancorp will post 2.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $1.08 dividend on an annualized basis and a yield of 2.59%. This is an increase from S & T Bancorp’s previous quarterly dividend of $0.25. S & T Bancorp’s payout ratio is currently 40.49%.

In related news, Director Christina Anne Cassotis acquired 1,457 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were purchased at an average price of $46.49 per share, with a total value of $67,735.93. Following the completion of the acquisition, the director now owns 1,636 shares in the company, valued at $76,057.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Miller sold 5,000 shares of S & T Bancorp stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $46.44, for a total transaction of $232,200.00. Following the transaction, the director now owns 39,948 shares of the company’s stock, valued at approximately $1,855,185.12. The disclosure for this sale can be found here. 2.71% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in STBA. Advisors Asset Management Inc. raised its position in S & T Bancorp by 2,113.1% during the second quarter. Advisors Asset Management Inc. now owns 496,381 shares of the financial services provider’s stock worth $1,054,000 after acquiring an additional 473,952 shares during the last quarter. BlackRock Inc. raised its position in S & T Bancorp by 6.5% during the second quarter. BlackRock Inc. now owns 4,843,292 shares of the financial services provider’s stock worth $209,423,000 after acquiring an additional 297,656 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in S & T Bancorp during the second quarter worth about $1,431,000. Dimensional Fund Advisors LP raised its position in S & T Bancorp by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,905,574 shares of the financial services provider’s stock worth $82,397,000 after acquiring an additional 61,048 shares during the last quarter. Finally, LSV Asset Management raised its position in S & T Bancorp by 28.2% during the second quarter. LSV Asset Management now owns 216,500 shares of the financial services provider’s stock worth $9,361,000 after acquiring an additional 47,567 shares during the last quarter. Institutional investors own 60.36% of the company’s stock.

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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