S&T Bancorp (NASDAQ:STBA) Coverage Initiated at Hovde Group

Stock analysts at Hovde Group began coverage on shares of S&T Bancorp (NASDAQ:STBA - Get Free Report) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set a "market perform" rating and a $41.00 price target on the financial services provider's stock. Hovde Group's price objective would indicate a potential upside of 7.30% from the stock's previous close.

Several other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of S&T Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Keefe, Bruyette & Woods reduced their target price on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th.

S&T Bancorp Price Performance

Shares of S&T Bancorp stock opened at $38.21 on Friday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 11.01 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $36.89 and a 200-day moving average price of $37.74. S&T Bancorp has a one year low of $30.84 and a one year high of $45.79.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $93.75 million for the quarter, compared to analysts' expectations of $96.40 million. S&T Bancorp had a net margin of 23.84% and a return on equity of 9.71%. Equities analysts expect that S&T Bancorp will post 3.05 EPS for the current year.

Institutional Trading of S&T Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of S&T Bancorp by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 201,695 shares of the financial services provider's stock worth $7,709,000 after purchasing an additional 7,027 shares during the last quarter. Citadel Advisors LLC boosted its stake in S&T Bancorp by 25.5% in the 4th quarter. Citadel Advisors LLC now owns 23,700 shares of the financial services provider's stock worth $906,000 after purchasing an additional 4,809 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in S&T Bancorp by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,493,127 shares of the financial services provider's stock worth $57,067,000 after purchasing an additional 60,617 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of S&T Bancorp by 52.7% in the fourth quarter. Deutsche Bank AG now owns 34,118 shares of the financial services provider's stock worth $1,304,000 after buying an additional 11,776 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of S&T Bancorp in the fourth quarter worth $1,310,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

About S&T Bancorp

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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