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 note issued to investors on Wednesday morning.

S&T Bancorp Trading Up 1.9 %

STBA opened at $32.22 on Wednesday. The firm’s fifty day moving average is $31.47 and its two-hundred day moving average is $31.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $1.23 billion, a PE ratio of 9.13 and a beta of 0.79. S&T Bancorp has a twelve month low of $24.51 and a twelve month high of $36.28.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. The company had revenue of $96.31 million for the quarter, compared to analyst estimates of $96.30 million. S&T Bancorp had a net margin of 24.68% and a return on equity of 10.86%. Equities research analysts anticipate that S&T Bancorp will post 3.02 EPS for the current year.

S&T Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.10%. S&T Bancorp’s payout ratio is 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 on Thursday, June 6th. The shares were sold at an average price of $31.05, for a total transaction of $341,550.00. Following the sale, the director now directly owns 31,770 shares in the company, valued at $986,458.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in STBA. Norges Bank bought a new position in S&T Bancorp in the fourth quarter valued at $9,055,000. Earnest Partners LLC grew its position in S&T Bancorp by 569.7% in the first quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock valued at $7,704,000 after purchasing an additional 204,281 shares in the last quarter. SpiderRock Advisors LLC bought a new position in S&T Bancorp in the first quarter valued at $2,234,000. American Century Companies Inc. grew its position in S&T Bancorp by 54.4% in the third quarter. American Century Companies Inc. now owns 185,495 shares of the financial services provider’s stock valued at $5,023,000 after purchasing an additional 65,375 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of S&T Bancorp by 1.1% in 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 during the period. Institutional investors 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.