Wall Street Zen Upgrades S&T Bancorp (NASDAQ:STBA) to Hold

Wall Street Zen upgraded shares of S&T Bancorp (NASDAQ:STBA - Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning.

Several other brokerages have also issued reports on STBA. Hovde Group started coverage on shares of S&T Bancorp in a research report on Friday. They issued a "market perform" rating and a $41.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on shares of 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

NASDAQ STBA traded up $1.21 during trading hours on Friday, reaching $39.03. The company's stock had a trading volume of 129,896 shares, compared to its average volume of 166,050. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 11.25 and a beta of 0.89. The company's 50-day moving average is $37.16 and its two-hundred day moving average is $37.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. S&T Bancorp has a 1-year low of $30.84 and a 1-year high of $45.79.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $93.75 million during the quarter, compared to the consensus estimate of $96.40 million. On average, equities analysts predict that S&T Bancorp will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a yield of 3.48%. S&T Bancorp's payout ratio is currently 39.19%.

Institutional Investors Weigh In On S&T Bancorp

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its stake in shares of S&T Bancorp by 824.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock worth $47,000 after buying an additional 1,088 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in S&T Bancorp by 67.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider's stock worth $48,000 after purchasing an additional 502 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 520 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of S&T Bancorp during the 4th quarter worth approximately $153,000. Finally, Nisa Investment Advisors LLC grew its position in shares of S&T Bancorp by 7.6% in 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 in the last quarter. Hedge funds and other institutional investors own 65.22% of the company's stock.

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.