S&T Bancorp (NASDAQ:STBA) Downgraded by StockNews.com

StockNews.com lowered shares of S&T Bancorp (NASDAQ:STBA) from a hold rating to a sell rating in a research note released on Wednesday.

Separately, DA Davidson lifted their price target on S&T Bancorp from $32.00 to $41.00 and gave the stock a neutral rating in a research report on Friday, July 19th.

S&T Bancorp Stock Down 1.2 %

NASDAQ STBA opened at $41.25 on Wednesday. The stock has a 50 day moving average price of $39.75 and a 200-day moving average price of $34.19. S&T Bancorp has a one year low of $24.51 and a one year high of $45.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $1.58 billion, a P/E ratio of 11.67 and a beta of 0.79.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.75 by $0.14. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. The business had revenue of $142.07 million during the quarter, compared to analyst estimates of $95.85 million. During the same quarter last year, the business earned $0.89 earnings per share. As a group, equities analysts predict that S&T Bancorp will post 3.31 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp’s payout ratio is 37.39%.

Institutional Investors Weigh In On S&T Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in STBA. Louisiana State Employees Retirement System boosted its stake in shares of S&T Bancorp by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 300 shares during the period. Texas Permanent School Fund Corp lifted its stake in S&T Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock worth $1,073,000 after purchasing an additional 432 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of S&T Bancorp by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock valued at $649,000 after buying an additional 498 shares during the period. HBK Sorce Advisory LLC grew its stake in shares of S&T Bancorp by 4.2% during the second quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock valued at $486,000 after buying an additional 584 shares during the last quarter. Finally, Legato Capital Management LLC raised its holdings in shares of S&T Bancorp by 2.2% in the second quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock worth $1,067,000 after buying an additional 703 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.