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

by · The Cerbat Gem

StockNews.com lowered shares of S&T Bancorp (NASDAQ:STBA – Free Report) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

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

Check Out Our Latest Stock Analysis on STBA

S&T Bancorp Stock Performance

Shares of S&T Bancorp stock opened at $39.68 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $41.60 and its 200 day simple moving average is $35.80. S&T Bancorp has a 12 month low of $24.51 and a 12 month high of $45.79. The firm has a market capitalization of $1.52 billion, a P/E ratio of 11.24 and a beta of 0.79.

S&T Bancorp (NASDAQ:STBA – Get Free Report) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $142.07 million during the quarter, compared to the consensus estimate of $95.85 million. During the same period last year, the business posted $0.89 earnings per share. As a group, analysts anticipate that S&T Bancorp will post 3.31 EPS for the current year.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp’s dividend payout ratio (DPR) is presently 37.39%.

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of S&T Bancorp by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock valued at $154,291,000 after purchasing an additional 52,075 shares in the last quarter. Dimensional Fund Advisors LP grew its position in S&T Bancorp by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider’s stock worth $80,064,000 after buying an additional 32,935 shares in the last quarter. American Century Companies Inc. grew its position in S&T Bancorp by 29.0% during the second quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider’s stock worth $19,761,000 after buying an additional 133,108 shares in the last quarter. Bank of New York Mellon Corp grew its position in S&T Bancorp by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock worth $15,638,000 after buying an additional 4,126 shares in the last quarter. Finally, Earnest Partners LLC grew its position in S&T Bancorp by 19.8% during the second quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock worth $9,602,000 after buying an additional 47,450 shares in the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Company Profile

(Get Free Report)

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.

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