S&T Bancorp (NASDAQ:STBA) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of S&T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Separately, DA Davidson upped their price objective on S&T Bancorp from $32.00 to $41.00 and gave the company a neutral rating in a research note on Friday, July 19th.

S&T Bancorp Price Performance

S&T Bancorp stock opened at $44.83 on Thursday. S&T Bancorp has a 12 month low of $24.51 and a 12 month high of $45.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $33.74 and its 200 day simple moving average is $32.35. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 12.70 and a beta of 0.81.

S&T Bancorp (NASDAQ:STBA) last posted 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 return on equity of 10.63% and a net margin of 24.20%. The business had revenue of $142.07 million for the quarter, compared to the consensus estimate of $95.85 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. Sell-side analysts forecast that S&T Bancorp will post 3.22 EPS for the current year.

Insider Buying and Selling

In related news, Director William J. Hieb sold 11,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $31.05, for a total value of $341,550.00. Following the sale, the director now owns 31,770 shares in the company, valued at $986,458.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in STBA. Norges Bank bought a new position in S&T Bancorp in the fourth quarter valued at $9,055,000. Earnest Partners LLC increased its stake in S&T Bancorp by 569.7% in the first quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock valued at $7,704,000 after acquiring an additional 204,281 shares during the last quarter. SpiderRock Advisors LLC bought a new position in S&T Bancorp in the first quarter valued at $2,234,000. American Century Companies Inc. grew its stake in shares of S&T Bancorp by 54.4% during the third quarter. American Century Companies Inc. now owns 185,495 shares of the financial services provider’s stock valued at $5,023,000 after buying an additional 65,375 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of S&T Bancorp by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock valued at $154,291,000 after buying an additional 52,075 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

About S&T Bancorp

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.