S&T Bancorp (NASDAQ:STBA) Stock Rating Upgraded by Wall Street Zen

S&T Bancorp (NASDAQ:STBA) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other brokerages also recently commented on STBA. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Monday, January 26th. Hovde Group boosted their price objective on S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. DA Davidson began coverage on S&T Bancorp in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 target price for the company. Zacks Research cut S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, S&T Bancorp currently has a consensus rating of “Hold” and a consensus target price of $44.40.

S&T Bancorp Stock Up 2.6%

Shares of STBA opened at $40.95 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day simple moving average of $42.11 and a 200-day simple moving average of $39.94. S&T Bancorp has a 52 week low of $30.84 and a 52 week high of $44.91. The firm has a market capitalization of $1.50 billion, a P/E ratio of 11.70 and a beta of 0.92.

S&T Bancorp (NASDAQ:STBA) last released 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. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The business had revenue of $105.90 million for the quarter, compared to the consensus estimate of $103.46 million. On average, equities research analysts expect that S&T Bancorp will post 3.05 earnings per share for the current year.

S&T Bancorp announced that its board has authorized a stock buyback program on Thursday, January 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On S&T Bancorp

Several institutional investors have recently added to or reduced their stakes in STBA. CWM LLC grew its stake in S&T Bancorp by 2.5% during the fourth quarter. CWM LLC now owns 11,129 shares of the financial services provider’s stock worth $438,000 after buying an additional 269 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of S&T Bancorp by 1.4% in the third quarter. Illinois Municipal Retirement Fund now owns 20,494 shares of the financial services provider’s stock valued at $770,000 after acquiring an additional 275 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in shares of S&T Bancorp by 3.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 8,414 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of S&T Bancorp by 26.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 316 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of S&T Bancorp by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 10,992 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 345 shares in the last quarter. 65.22% of the stock is owned by institutional investors.

S&T Bancorp Company Profile

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.