S&T Bancorp (NASDAQ:STBA – Get Free Report) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
Separately, DA Davidson lifted their price target on S&T Bancorp from $32.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th.
Check Out Our Latest Stock Analysis on S&T Bancorp
S&T Bancorp Stock Down 0.6 %
S&T Bancorp (NASDAQ:STBA – Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 10.63% and a net margin of 24.20%. During the same period last year, the firm earned $0.89 earnings per share. As a group, equities analysts forecast that S&T Bancorp will post 3.31 EPS for the current fiscal year.
Hedge Funds Weigh In On S&T Bancorp
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in S&T Bancorp by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock valued at $641,000 after acquiring an additional 300 shares during the period. Texas Permanent School Fund Corp boosted its stake in S&T Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock valued at $1,073,000 after acquiring an additional 432 shares during the period. The Manufacturers Life Insurance Company boosted its stake in S&T Bancorp by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 498 shares during the period. HBK Sorce Advisory LLC boosted its stake in S&T Bancorp by 4.2% in the second quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 584 shares during the period. Finally, Legato Capital Management LLC boosted its stake in S&T Bancorp by 2.2% in the second quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 703 shares during the period. 65.22% of the stock is currently 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.
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