StockNews.com Lowers S&T Bancorp (NASDAQ:STBA) to Sell

StockNews.com cut shares of S&T Bancorp (NASDAQ:STBA) from a hold rating to a sell rating in a report issued on Tuesday.

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

S&T Bancorp Trading Down 2.1 %

S&T Bancorp stock opened at $41.33 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 11.71 and a beta of 0.79. S&T Bancorp has a one year low of $24.51 and a one year high of $45.79. The company’s fifty day moving average price is $41.34 and its two-hundred day moving average price is $36.31.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. The business had revenue of $142.07 million for the quarter, compared to analyst estimates of $95.85 million. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, analysts forecast that S&T Bancorp will post 3.3 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp’s dividend payout ratio is currently 37.39%.

Hedge Funds Weigh In On S&T Bancorp

Several large investors have recently made changes to their positions in STBA. Louisiana State Employees Retirement System increased its position in S&T Bancorp by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after buying an additional 300 shares during the period. Texas Permanent School Fund Corp increased its position in S&T Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock worth $1,073,000 after acquiring an additional 432 shares during the period. The Manufacturers Life Insurance Company raised its stake in S&T Bancorp by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 498 shares during the last quarter. GAMMA Investing LLC boosted its holdings in S&T Bancorp by 80.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 526 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in S&T Bancorp by 4.2% in the 2nd quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 584 shares during the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

S&T Bancorp Company Profile

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.