S&T Bancorp (NASDAQ:STBA) Upgraded 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 report published on Wednesday.

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

S&T Bancorp Trading Down 0.7 %

STBA opened at $41.12 on Wednesday. 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 cap of $1.57 billion, a price-to-earnings ratio of 11.65 and a beta of 0.79. The firm has a 50 day simple moving average of $41.95 and a 200 day simple moving average of $35.39. S&T Bancorp has a fifty-two week low of $24.51 and a fifty-two week high of $45.79.

S&T Bancorp (NASDAQ:STBA) last posted 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. 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 period in the previous year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that S&T Bancorp will post 3.31 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.21%. The ex-dividend date was Thursday, August 8th. S&T Bancorp’s payout ratio is presently 37.39%.

Institutional Investors Weigh In On S&T Bancorp

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased 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 purchasing an additional 498 shares in the last quarter. Earnest Partners LLC increased its stake in S&T Bancorp by 19.8% in the second quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock valued at $9,602,000 after purchasing an additional 47,450 shares in the last quarter. AQR Capital Management LLC increased its stake in 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 valued at $1,145,000 after purchasing an additional 9,384 shares in the last quarter. Public Sector Pension Investment Board increased its stake 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 in the last quarter. Finally, Denali Advisors LLC bought a new stake in S&T Bancorp in the second quarter valued at approximately $200,000. Institutional investors 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.