S&T Bancorp (NASDAQ:STBA) Raised 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 report issued on Thursday.

Separately, DA Davidson upped their price objective on shares of 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 Up 1.7 %

Shares of S&T Bancorp stock opened at $45.61 on Thursday. The company has a market cap of $1.74 billion, a P/E ratio of 12.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. S&T Bancorp has a one year low of $24.51 and a one year high of $45.79. The firm has a fifty day moving average of $33.99 and a two-hundred day moving average of $32.43.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. The company had revenue of $142.07 million during the quarter, compared to the consensus estimate of $95.85 million. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, analysts forecast that S&T Bancorp will post 3.22 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a $0.33 dividend. The ex-dividend date is Thursday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.89%. S&T Bancorp’s dividend payout ratio is presently 37.39%.

Insider Activity

In other news, Director William J. Hieb sold 11,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $31.05, for a total value of $341,550.00. Following the completion of the transaction, the director now owns 31,770 shares in the company, valued at approximately $986,458.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.38% of the company’s stock.

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in S&T Bancorp by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock valued at $154,291,000 after acquiring an additional 52,075 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in S&T Bancorp by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,384,380 shares of the financial services provider’s stock valued at $79,687,000 after acquiring an additional 30,384 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in S&T Bancorp by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock valued at $15,638,000 after acquiring an additional 4,126 shares in the last quarter. Norges Bank purchased a new position in S&T Bancorp during the 4th quarter valued at about $9,055,000. Finally, Earnest Partners LLC increased its holdings in S&T Bancorp by 569.7% during the 1st 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 in the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

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.