S&T Bancorp (NASDAQ:STBA) Raised to Hold at StockNews.com

StockNews.com upgraded shares of S&T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a research report released on Wednesday.

S&T Bancorp Stock Performance

Shares of S&T Bancorp stock opened at $33.39 on Wednesday. The firm has a market cap of $1.28 billion, a PE ratio of 9.46 and a beta of 0.79. The firm’s 50-day simple moving average is $31.60 and its 200-day simple moving average is $31.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. S&T Bancorp has a 1 year low of $24.51 and a 1 year high of $36.28.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $96.31 million for the quarter, compared to analyst estimates of $96.30 million. S&T Bancorp had a net margin of 24.68% and a return on equity of 10.86%. Equities analysts forecast that S&T Bancorp will post 3.02 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a $0.33 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.95%. S&T Bancorp’s dividend payout ratio (DPR) is presently 37.39%.

Insider Activity

In other news, Director William J. Hieb sold 11,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $31.05, for a total value of $341,550.00. Following the sale, the director now owns 31,770 shares in the company, valued at approximately $986,458.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.38% of the company’s stock.

Institutional Investors Weigh In On S&T Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of STBA. TFO Wealth Partners LLC raised its stake in S&T Bancorp by 5,870.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,015 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 998 shares during the period. EntryPoint Capital LLC raised its stake in S&T Bancorp by 188.0% during the first quarter. EntryPoint Capital LLC now owns 2,854 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 1,863 shares during the period. Bare Financial Services Inc acquired a new stake in S&T Bancorp during the fourth quarter worth about $145,000. SG Americas Securities LLC acquired a new stake in S&T Bancorp during the first quarter worth about $152,000. Finally, Allegheny Financial Group LTD bought a new position in S&T Bancorp in the 4th quarter worth about $206,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

About S&T Bancorp

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.