S&T Bancorp (NASDAQ:STBA) Upgraded at StockNews.com

S&T Bancorp (NASDAQ:STBA) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Separately, DA Davidson increased their target price on S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 19th.

S&T Bancorp Price Performance

STBA opened at $41.43 on Wednesday. S&T Bancorp has a 52-week low of $24.51 and a 52-week high of $45.79. The company has a 50 day moving average of $41.95 and a two-hundred day moving average of $35.32. The company has a market cap of $1.58 billion, a P/E ratio of 11.74 and a beta of 0.79. 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 announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. The firm had revenue of $142.07 million during the quarter, compared to analysts’ expectations of $95.85 million. During the same period in the prior year, the company earned $0.89 EPS. On average, analysts expect that S&T Bancorp will post 3.31 earnings per share for the current year.

Institutional Investors Weigh In On S&T Bancorp

A number of large investors have recently added to or reduced their stakes in STBA. The Manufacturers Life Insurance Company lifted its holdings in S&T Bancorp by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock worth $649,000 after buying an additional 498 shares in the last quarter. Earnest Partners LLC increased its position in shares of S&T Bancorp by 19.8% during the second quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock worth $9,602,000 after acquiring an additional 47,450 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of S&T Bancorp by 37.7% in the second quarter. AQR Capital Management LLC now owns 34,280 shares of the financial services provider’s stock worth $1,145,000 after acquiring an additional 9,384 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in S&T Bancorp by 6.1% in the second quarter. Public Sector Pension Investment Board now owns 84,173 shares of the financial services provider’s stock valued at $2,811,000 after purchasing an additional 4,827 shares during the last quarter. Finally, Denali Advisors LLC acquired a new stake in S&T Bancorp during the 2nd quarter valued at approximately $200,000. 65.22% of the stock is owned by institutional investors and hedge funds.

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.