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

S&T Bancorp (NASDAQ:STBA) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Separately, DA Davidson lifted their price objective on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 19th.

S&T Bancorp Stock Down 0.9 %

Shares of STBA opened at $42.58 on Wednesday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 12.06 and a beta of 0.79. S&T Bancorp has a 52 week low of $24.51 and a 52 week high of $45.79. The stock’s 50-day moving average price is $39.37 and its 200-day moving average price is $34.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.75 by $0.14. The business had revenue of $142.07 million for the quarter, compared to analyst estimates of $95.85 million. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, sell-side analysts predict that S&T Bancorp will post 3.31 EPS for the current year.

Insider Activity

In other news, Director William J. Hieb sold 11,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $31.05, for a total transaction of $341,550.00. Following 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 available at this link. Company insiders own 1.38% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its holdings in S&T Bancorp by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after buying an additional 300 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of 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 worth $1,073,000 after purchasing an additional 432 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in S&T Bancorp by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 498 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in S&T Bancorp by 4.2% in the 2nd quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 584 shares in the last quarter. Finally, Legato Capital Management LLC boosted its stake in S&T Bancorp by 2.2% during the 2nd quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 703 shares during the last quarter. Institutional investors and hedge funds 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.