Keefe, Bruyette & Woods Lowers S&T Bancorp (NASDAQ:STBA) Price Target to $43.00

S&T Bancorp (NASDAQ:STBA - Get Free Report) had its target price dropped by research analysts at Keefe, Bruyette & Woods from $44.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 18.16% from the company's previous close.

S&T Bancorp Stock Performance

NASDAQ STBA traded up $0.36 during trading hours on Monday, hitting $36.39. 38,064 shares of the stock were exchanged, compared to its average volume of 164,778. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $36.93 and a 200 day moving average of $38.93. S&T Bancorp has a 12-month low of $29.85 and a 12-month high of $45.79. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 10.67 and a beta of 0.75.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $93.75 million during the quarter, compared to the consensus estimate of $96.40 million. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. As a group, equities research analysts forecast that S&T Bancorp will post 3.05 earnings per share for the current year.

Insider Buying and Selling at S&T Bancorp

In other news, Director Bhaskar Ramachandran bought 764 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $39.25 per share, with a total value of $29,987.00. Following the transaction, the director now owns 1,251 shares of the company's stock, valued at $49,101.75. This represents a 156.88 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On S&T Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its position in S&T Bancorp by 124.4% during the 3rd quarter. Barclays PLC now owns 74,236 shares of the financial services provider's stock worth $3,116,000 after purchasing an additional 41,148 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of S&T Bancorp during the third quarter worth $220,000. JPMorgan Chase & Co. lifted its holdings in S&T Bancorp by 5.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,655 shares of the financial services provider's stock worth $1,454,000 after buying an additional 1,901 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of S&T Bancorp by 48.6% in the fourth quarter. Versant Capital Management Inc now owns 926 shares of the financial services provider's stock worth $35,000 after acquiring an additional 303 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of S&T Bancorp by 8.6% in the 4th quarter. Diversified Trust Co now owns 9,264 shares of the financial services provider's stock valued at $354,000 after purchasing an additional 737 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.

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