S&T Bancorp (NASDAQ:STBA) Rating Increased to Hold at DA Davidson

S&T Bancorp (NASDAQ:STBA) was upgraded by investment analysts at DA Davidson to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on STBA. Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday, January 26th. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Piper Sandler reduced their price objective on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Finally, Hovde Group raised their target price on S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, S&T Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.40.

S&T Bancorp Trading Up 2.2%

S&T Bancorp stock opened at $44.06 on Tuesday. S&T Bancorp has a one year low of $30.84 and a one year high of $44.87. The business’s fifty day moving average is $41.83 and its 200 day moving average is $39.62. The stock has a market capitalization of $1.68 billion, a PE ratio of 12.59 and a beta of 0.93. 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 (NASDAQ:STBA) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $105.90 million during the quarter, compared to analyst estimates of $103.46 million. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%. On average, sell-side analysts predict that S&T Bancorp will post 3.05 EPS for the current year.

S&T Bancorp declared that its Board of Directors has approved a share buyback program on Thursday, January 22nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of S&T Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Costello Asset Management INC bought a new position in shares of S&T Bancorp in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC grew its stake 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 during the period. Torren Management LLC purchased a new stake in S&T Bancorp in the 4th quarter worth approximately $37,000. Smithfield Trust Co purchased a new stake in S&T Bancorp in the 4th quarter worth approximately $40,000. Finally, Versant Capital Management Inc raised its stake in S&T Bancorp by 41.6% during the 3rd quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 384 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 headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.