S&T Bancorp (NASDAQ:STBA) Now Covered by Piper Sandler

Piper Sandler initiated coverage on shares of S&T Bancorp (NASDAQ:STBA - Free Report) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage issued a neutral rating and a $42.00 price target on the financial services provider's stock.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded S&T Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods cut their price target 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. Finally, Hovde Group initiated coverage on S&T Bancorp in a research report on Friday, June 27th. They set a "market perform" rating and a $41.00 price objective on the stock.

S&T Bancorp Price Performance

Shares of STBA stock traded down $0.16 on Friday, hitting $38.96. 112,999 shares of the company's stock were exchanged, compared to its average volume of 163,433. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $1.49 billion, a P/E ratio of 11.23 and a beta of 0.89. S&T Bancorp has a 12 month low of $30.84 and a 12 month high of $45.79. The company has a 50 day moving average of $37.79 and a 200 day moving average of $37.59.

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

S&T Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, May 15th. S&T Bancorp's dividend payout ratio (DPR) is currently 39.19%.

Institutional Investors Weigh In On S&T Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of STBA. Sterling Capital Management LLC boosted its stake in S&T Bancorp by 824.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 1,088 shares during the last quarter. GAMMA Investing LLC grew its holdings in S&T Bancorp by 41.9% in the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock worth $65,000 after buying an additional 520 shares in the last quarter. Legend Financial Advisors Inc. acquired a new stake in S&T Bancorp in the second quarter worth about $128,000. CoreFirst Bank & Trust acquired a new position in shares of S&T Bancorp during the 4th quarter valued at $153,000. Finally, Nisa Investment Advisors LLC lifted its stake in S&T Bancorp by 7.6% during the first quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock valued at $192,000 after purchasing an additional 367 shares during the last quarter. 65.22% of the stock is currently 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.