S&T Bancorp, Inc. (NASDAQ:STBA) Lifted to “Hold” at BidaskClub
BidaskClub upgraded shares of S&T Bancorp, Inc. (NASDAQ:STBA) from a sell rating to a hold rating in a research note released on Tuesday.
Separately, Zacks Investment Research upgraded S&T Bancorp from a hold rating to a buy rating and set a $43.00 target price on the stock in a research note on Tuesday.
Shares of S&T Bancorp (STBA) traded up 0.13% during trading on Tuesday, reaching $37.52. 45,495 shares of the company were exchanged. The firm has a market capitalization of $1.31 billion, a P/E ratio of 16.51 and a beta of 0.83. The firm’s 50 day moving average is $36.42 and its 200 day moving average is $35.77. S&T Bancorp has a 1-year low of $24.83 and a 1-year high of $39.84.
S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.09. S&T Bancorp had a return on equity of 9.30% and a net margin of 26.52%. The company had revenue of $72.84 million for the quarter, compared to analyst estimates of $71.98 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, equities analysts anticipate that S&T Bancorp will post $2.30 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.80 annualized dividend and a yield of 2.13%. S&T Bancorp’s dividend payout ratio (DPR) is presently 35.24%.
In other S&T Bancorp news, Director Frank W. Jones sold 1,075 shares of S&T Bancorp stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $37.67, for a total value of $40,495.25. Following the transaction, the director now owns 25,065 shares in the company, valued at $944,198.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.31% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund raised its position in S&T Bancorp by 1.0% in the second quarter. Texas Permanent School Fund now owns 25,540 shares of the financial services provider’s stock valued at $916,000 after buying an additional 263 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of S&T Bancorp by 2.8% in the second quarter. Great West Life Assurance Co. Can now owns 53,039 shares of the financial services provider’s stock valued at $1,901,000 after buying an additional 1,463 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of S&T Bancorp by 3.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,240 shares of the financial services provider’s stock valued at $295,000 after buying an additional 300 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of S&T Bancorp by 186.6% in the second quarter. Russell Investments Group Ltd. now owns 30,433 shares of the financial services provider’s stock valued at $1,092,000 after buying an additional 19,816 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of S&T Bancorp during the second quarter valued at $333,000. Institutional investors own 54.18% of the company’s stock.
About S&T Bancorp
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.
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