S&T Bancorp (NASDAQ:STBA) Downgraded by StockNews.com

StockNews.com downgraded shares of S&T Bancorp (NASDAQ:STBA) from a hold rating to a sell rating in a report published on Monday morning.

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

S&T Bancorp Stock Down 1.8 %

STBA stock opened at $42.56 on Monday. S&T Bancorp has a 1-year low of $24.51 and a 1-year high of $45.79. The business has a fifty day moving average price of $38.02 and a 200-day moving average price of $33.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $1.63 billion, a P/E ratio of 12.06 and a beta of 0.81.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.14. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. The firm had revenue of $142.07 million during the quarter, compared to analysts’ expectations of $95.85 million. During the same quarter in the previous year, the business earned $0.89 earnings per share. Equities analysts forecast that S&T Bancorp will post 3.31 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp’s payout ratio is currently 37.39%.

Insider Buying and Selling at S&T Bancorp

In other news, Director William J. Hieb sold 11,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $31.05, for a total value of $341,550.00. Following the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 1.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On S&T Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in S&T Bancorp by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock valued at $649,000 after buying an additional 498 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of S&T Bancorp by 19.8% in the 2nd quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock valued at $9,602,000 after purchasing an additional 47,450 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of S&T Bancorp by 37.7% in the 2nd quarter. AQR Capital Management LLC now owns 34,280 shares of the financial services provider’s stock valued at $1,145,000 after purchasing an additional 9,384 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of S&T Bancorp by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 84,173 shares of the financial services provider’s stock valued at $2,811,000 after purchasing an additional 4,827 shares during the last quarter. Finally, Denali Advisors LLC bought a new stake in shares of S&T Bancorp in the 2nd quarter valued at approximately $200,000. 65.22% of the stock is owned by institutional investors.

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.