S&T Bancorp (NASDAQ:STBA) Rating Increased 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 note released on Thursday morning.

Separately, DA Davidson upped their price objective on shares of S&T Bancorp from $32.00 to $41.00 and gave the stock a neutral rating in a report on Friday, July 19th.

S&T Bancorp Stock Performance

STBA stock opened at $45.61 on Thursday. The company has a market capitalization of $1.74 billion, a P/E ratio of 12.92 and a beta of 0.81. The company has a 50-day simple moving average of $33.99 and a 200 day simple moving average of $32.43. S&T Bancorp has a fifty-two week low of $24.51 and a fifty-two week high of $45.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.14. The business had revenue of $142.07 million during the quarter, compared to the consensus estimate of $95.85 million. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. During the same quarter in the prior year, the company posted $0.89 earnings per share. Sell-side analysts predict that S&T Bancorp will post 3.22 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, August 8th. S&T Bancorp’s dividend payout ratio (DPR) is presently 37.39%.

Insiders Place Their Bets

In other S&T Bancorp news, Director William J. Hieb sold 11,000 shares of the business’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 directly owns 31,770 shares in the company, valued at $986,458.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.38% of the stock is owned by company insiders.

Institutional Trading of S&T Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of STBA. Norges Bank acquired a new stake in S&T Bancorp during the 4th quarter worth about $9,055,000. Earnest Partners LLC raised its holdings in S&T Bancorp by 569.7% during the 1st quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock worth $7,704,000 after buying an additional 204,281 shares during the period. SpiderRock Advisors LLC acquired a new stake in S&T Bancorp during the 1st quarter worth about $2,234,000. American Century Companies Inc. raised its holdings in S&T Bancorp by 54.4% during the 3rd quarter. American Century Companies Inc. now owns 185,495 shares of the financial services provider’s stock worth $5,023,000 after buying an additional 65,375 shares during the period. Finally, Vanguard Group Inc. raised its holdings in S&T Bancorp by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock worth $154,291,000 after buying an additional 52,075 shares during the period. 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.