S&T Bancorp, Inc. (STBA) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of S&T Bancorp, Inc. (NASDAQ:STBA) from a buy rating to a hold rating in a research note released on Wednesday.
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. “
Separately, BidaskClub raised shares of S&T Bancorp from a sell rating to a hold rating in a report on Saturday, June 10th.
Shares of S&T Bancorp (STBA) opened at 37.52 on Wednesday. The firm has a 50-day moving average of $36.42 and a 200 day moving average of $35.77. S&T Bancorp has a 12-month low of $24.83 and a 12-month high of $39.84. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 16.51 and a beta of 0.83.
S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $72.84 million for the quarter, compared to analyst estimates of $71.98 million. S&T Bancorp had a net margin of 26.52% and a return on equity of 9.30%. During the same period in the previous year, the business posted $0.49 earnings per share. Equities analysts forecast that S&T Bancorp will post $2.30 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Tuesday, August 1st. S&T Bancorp’s payout ratio is 35.24%.
In other news, Director Frank W. Jones sold 1,075 shares of S&T Bancorp stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $37.67, for a total value of $40,495.25. Following the sale, the director now owns 25,065 shares of the company’s stock, valued at $944,198.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.31% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in STBA. BNP Paribas Arbitrage SA increased its stake in S&T Bancorp by 1.5% in the first quarter. BNP Paribas Arbitrage SA now owns 7,422 shares of the financial services provider’s stock worth $257,000 after buying an additional 112 shares in the last quarter. Bank of New York Mellon Corp increased its stake in S&T Bancorp by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 490,094 shares of the financial services provider’s stock worth $16,957,000 after buying an additional 28,370 shares in the last quarter. Advisors Asset Management Inc. increased its stake in S&T Bancorp by 83.3% in the first quarter. Advisors Asset Management Inc. now owns 15,451 shares of the financial services provider’s stock worth $535,000 after buying an additional 7,021 shares in the last quarter. First Trust Advisors LP increased its stake in S&T Bancorp by 1.5% in the first quarter. First Trust Advisors LP now owns 100,259 shares of the financial services provider’s stock worth $3,469,000 after buying an additional 1,501 shares in the last quarter. Finally, LSV Asset Management increased its stake in S&T Bancorp by 57.7% in the first quarter. LSV Asset Management now owns 130,300 shares of the financial services provider’s stock worth $4,508,000 after buying an additional 47,700 shares in the last quarter. 54.18% of the stock is currently owned by hedge funds and other institutional investors.
S&T Bancorp Company Profile
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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