Zacks Investment Research Upgrades S & T Bancorp (STBA) to Hold

Zacks Investment Research upgraded shares of S & T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a report issued on Friday.

According to Zacks, “S & T BANCORP, INC. is a bank holding company which is engaged in general banking business. The Bank is a full service bank with its main office in Indiana, Pennsylvania, providing service to its customers through a branch of 34 offices located in Armstrong, Allegheny, Indiana, Jefferson, Clearfield and Westmoreland counties. The Bank’s services include accepting time and demand deposit accounts, making secured and unsecured commercial and consumer loans, providing letters of credit, and offering discount brokerage services, personal financial planning and credit card services. “

STBA has been the topic of several other research reports. BidaskClub lowered S & T Bancorp from a hold rating to a sell rating in a research note on Monday, February 4th. Boenning Scattergood reaffirmed a hold rating on shares of S & T Bancorp in a research note on Monday, December 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $51.00.

Shares of STBA opened at $37.33 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. S & T Bancorp has a 12-month low of $35.16 and a 12-month high of $47.77. The firm has a market cap of $1.29 billion, a PE ratio of 12.40, a PEG ratio of 1.21 and a beta of 0.72.

S & T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, January 31st. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). S & T Bancorp had a net margin of 31.07% and a return on equity of 11.52%. The firm had revenue of $70.94 million for the quarter, compared to analyst estimates of $72.94 million. Research analysts anticipate that S & T Bancorp will post 3.1 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Wednesday, February 13th. S & T Bancorp’s dividend payout ratio (DPR) is presently 35.88%.

In other news, Director James Thomas Gibson purchased 12,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were acquired at an average price of $38.89 per share, with a total value of $466,680.00. Following the completion of the purchase, the director now directly owns 201,780 shares of the company’s stock, valued at approximately $7,847,224.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.53% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in STBA. Huntington National Bank acquired a new position in S & T Bancorp in the fourth quarter valued at about $57,000. Millennium Management LLC lifted its stake in S & T Bancorp by 47.0% in the fourth quarter. Millennium Management LLC now owns 6,931 shares of the financial services provider’s stock valued at $262,000 after buying an additional 2,216 shares during the period. Fort Pitt Capital Group LLC acquired a new position in S & T Bancorp in the fourth quarter valued at about $311,000. Piedmont Investment Advisors Inc. lifted its stake in S & T Bancorp by 3.3% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 8,321 shares of the financial services provider’s stock valued at $315,000 after buying an additional 267 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in S & T Bancorp by 10.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,508 shares of the financial services provider’s stock valued at $360,000 after buying an additional 883 shares during the period. 60.97% of the stock is currently owned by hedge funds and other institutional investors.

S & T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.

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