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

S&T Bancorp (NASDAQ:STBA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods cut their target price on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Hovde Group started coverage on shares of S&T Bancorp in a report on Friday, June 27th. They issued a "market perform" rating and a $41.00 price target on the stock. Finally, Piper Sandler began coverage on shares of S&T Bancorp in a research note on Friday. They set a "neutral" rating and a $42.00 price objective for the company.

S&T Bancorp Trading Down 0.3%

Shares of STBA stock opened at $39.12 on Friday. S&T Bancorp has a 12-month low of $30.84 and a 12-month high of $45.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $37.79 and a 200-day moving average of $37.58. The firm has a market cap of $1.50 billion, a P/E ratio of 11.27 and a beta of 0.89.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $93.75 million for the quarter, compared to the consensus estimate of $96.40 million. S&T Bancorp had a net margin of 23.84% and a return on equity of 9.71%. Sell-side analysts anticipate that S&T Bancorp will post 3.05 earnings per share for the current year.

Institutional Trading of S&T Bancorp

A number of institutional investors have recently made changes to their positions in STBA. CANADA LIFE ASSURANCE Co grew its stake in shares of S&T Bancorp by 0.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 39,655 shares of the financial services provider's stock worth $1,512,000 after purchasing an additional 254 shares during the last quarter. Hancock Whitney Corp lifted its holdings in S&T Bancorp by 2.1% in the 1st quarter. Hancock Whitney Corp now owns 15,813 shares of the financial services provider's stock worth $586,000 after buying an additional 326 shares during the period. Nisa Investment Advisors LLC grew its position in shares of S&T Bancorp by 7.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock worth $192,000 after buying an additional 367 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of S&T Bancorp by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 151,252 shares of the financial services provider's stock worth $5,781,000 after buying an additional 410 shares during the last quarter. Finally, Confluence Wealth Services Inc. increased its stake in shares of S&T Bancorp by 1.5% during the first quarter. Confluence Wealth Services Inc. now owns 31,271 shares of the financial services provider's stock valued at $1,132,000 after buying an additional 465 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.