S&T Bancorp's (STBA) "Hold (C+)" Rating Reiterated at Weiss Ratings

Key Points

• S&T Bancorp has had its stock rating reaffirmed as "Hold (C+)" by Weiss Ratings, with a consensus rating of "Hold" from several analysts and an average price target of $42.00.
• The company reported earnings of $0.83 per share for the quarter, exceeding analyst expectations, while its revenue was $100.07 million, also above forecasts.
• Institutional investors and hedge funds now own 65.22% of S&T Bancorp's stock, indicating strong interest from professional investment entities.

S&T Bancorp (NASDAQ:STBA - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also issued reports on the stock. Piper Sandler initiated coverage on shares of S&T Bancorp in a research report on Friday, July 18th. They set a "neutral" rating and a $42.00 target price on the stock. Hovde Group began coverage on shares of S&T Bancorp in a research report on Friday, June 27th. They set a "market perform" rating and a $41.00 target price on the stock. Finally, Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $42.00.

S&T Bancorp Stock Down 0.5%

Shares of NASDAQ STBA opened at $37.09 on Wednesday. S&T Bancorp has a 1 year low of $30.84 and a 1 year high of $45.46. The firm's 50 day moving average price is $38.15 and its 200 day moving average price is $37.44. The firm has a market cap of $1.42 billion, a P/E ratio of 10.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.03. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. The firm had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. As a group, sell-side analysts anticipate that S&T Bancorp will post 3.05 earnings per share for the current year.

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in STBA. EverSource Wealth Advisors LLC lifted its holdings in shares of S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 888 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of S&T Bancorp by 26.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 316 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of S&T Bancorp during the 2nd quarter valued at $91,000. Legend Financial Advisors Inc. acquired a new position in shares of S&T Bancorp during the 2nd quarter valued at $128,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of S&T Bancorp by 198.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,933 shares of the financial services provider's stock valued at $149,000 after acquiring an additional 2,613 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company's stock.

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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