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 released on Wednesday.

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

S&T Bancorp Stock Performance

Shares of STBA opened at $41.12 on Wednesday. S&T Bancorp has a 12 month low of $24.51 and a 12 month high of $45.79. The firm has a fifty day simple moving average of $41.95 and a 200 day simple moving average of $35.39. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.65 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, topping 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 analysts’ expectations of $95.85 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. Research analysts forecast that S&T Bancorp will post 3.31 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp’s dividend payout ratio is currently 37.39%.

Institutional Trading of S&T Bancorp

Large investors have recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in S&T Bancorp in the fourth quarter valued at $812,000. Norges Bank acquired a new stake in S&T Bancorp in the fourth quarter valued at $9,055,000. State Board of Administration of Florida Retirement System lifted its stake in S&T Bancorp by 119.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,336 shares of the financial services provider’s stock valued at $765,000 after acquiring an additional 13,230 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in S&T Bancorp in the fourth quarter valued at $1,699,000. Finally, 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 valued at $1,073,000 after acquiring an additional 432 shares during the last quarter. Institutional investors and hedge funds 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.