StockNews.com Downgrades S&T Bancorp (NASDAQ:STBA) to Sell

StockNews.com cut shares of S&T Bancorp (NASDAQ:STBA) from a hold rating to a sell rating in a research note released on Tuesday morning.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA opened at $31.21 on Tuesday. The company has a market cap of $1.19 billion, a PE ratio of 8.84 and a beta of 0.79. S&T Bancorp has a 12 month low of $24.51 and a 12 month high of $36.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day simple moving average of $31.20 and a 200-day simple moving average of $31.69.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. S&T Bancorp had a net margin of 24.68% and a return on equity of 10.86%. The business had revenue of $96.31 million during the quarter, compared to the consensus estimate of $96.30 million. On average, equities analysts anticipate that S&T Bancorp will post 3.02 earnings per share for the current year.

S&T Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.32 annualized dividend and a dividend yield of 4.23%. S&T Bancorp’s dividend payout ratio is presently 37.39%.

Insider Buying and Selling

In related news, Director William J. Hieb sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $31.05, for a total value of $341,550.00. Following the sale, the director now directly owns 31,770 shares of the company’s stock, valued at $986,458.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp lifted its position in S&T Bancorp by 1.3% during 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 buying an additional 432 shares in the last quarter. Diversified Trust Co lifted its position in S&T Bancorp by 5.7% during the fourth quarter. Diversified Trust Co now owns 10,786 shares of the financial services provider’s stock valued at $360,000 after buying an additional 584 shares in the last quarter. Swiss National Bank lifted its position in S&T Bancorp by 0.8% during the third quarter. Swiss National Bank now owns 85,700 shares of the financial services provider’s stock valued at $2,321,000 after buying an additional 700 shares in the last quarter. TFO Wealth Partners LLC lifted its position in S&T Bancorp by 5,870.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,015 shares of the financial services provider’s stock valued at $34,000 after buying an additional 998 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in S&T Bancorp by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,326 shares of the financial services provider’s stock valued at $1,455,000 after buying an additional 1,475 shares in the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.

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.