S & T Bancorp (NASDAQ:STBA) Upgraded to “Hold” by Zacks Investment Research

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Zacks Investment Research upgraded shares of S & T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “S & T BANCORP, INC. is a bank holding company which is engaged in general banking business. The Bank is a full service bank with its main office in Indiana, Pennsylvania, providing service to its customers through a branch of 34 offices located in Armstrong, Allegheny, Indiana, Jefferson, Clearfield and Westmoreland counties. The Bank’s services include accepting time and demand deposit accounts, making secured and unsecured commercial and consumer loans, providing letters of credit, and offering discount brokerage services, personal financial planning and credit card services. “

Other analysts have also issued reports about the stock. BidaskClub upgraded shares of S & T Bancorp from a sell rating to a hold rating in a research note on Thursday, February 14th. ValuEngine upgraded shares of S & T Bancorp from a sell rating to a hold rating in a research note on Saturday, May 4th. Finally, Boenning Scattergood restated a hold rating on shares of S & T Bancorp in a research note on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $51.00.

Shares of NASDAQ:STBA opened at $37.58 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.29 and a beta of 0.70. S & T Bancorp has a 1 year low of $35.16 and a 1 year high of $47.77.

S & T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.08). S & T Bancorp had a return on equity of 11.02% and a net margin of 29.41%. The firm had revenue of $71.72 million for the quarter, compared to analysts’ expectations of $72.39 million. Analysts anticipate that S & T Bancorp will post 2.91 EPS for the current fiscal year.

In other news, CEO Todd D. Brice bought 2,036 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $37.31 per share, for a total transaction of $75,963.16. Following the completion of the purchase, the chief executive officer now owns 91,520 shares of the company’s stock, valued at $3,414,611.20. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in STBA. Morgan Stanley increased its stake in S & T Bancorp by 62.9% in the third quarter. Morgan Stanley now owns 169,891 shares of the financial services provider’s stock valued at $7,367,000 after purchasing an additional 65,605 shares during the last quarter. Arizona State Retirement System increased its stake in S & T Bancorp by 6.2% in the fourth quarter. Arizona State Retirement System now owns 53,910 shares of the financial services provider’s stock valued at $2,040,000 after purchasing an additional 3,125 shares during the last quarter. Advisors Asset Management Inc. increased its stake in S & T Bancorp by 1.2% in the fourth quarter. Advisors Asset Management Inc. now owns 29,512 shares of the financial services provider’s stock valued at $1,117,000 after purchasing an additional 342 shares during the last quarter. Rhumbline Advisers increased its stake in S & T Bancorp by 17.0% in the fourth quarter. Rhumbline Advisers now owns 118,531 shares of the financial services provider’s stock valued at $4,485,000 after purchasing an additional 17,250 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in S & T Bancorp by 20.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 41,650 shares of the financial services provider’s stock valued at $1,576,000 after purchasing an additional 7,076 shares during the last quarter. Institutional investors own 60.27% of the company’s stock.

About S & T Bancorp

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.

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