S & T Bancorp (NASDAQ:STBA) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of S & T Bancorp (NASDAQ:STBA) from a buy rating to a hold rating in a report released on Thursday, December 21st.

According to Zacks, “S & T BANCORP, INC. is a bank holding company which is engaged in general banking business. The Bank is a full service bank with its main office in Indiana, Pennsylvania, providing service to its customers through a branch of 34 offices located in Armstrong, Allegheny, Indiana, Jefferson, Clearfield and Westmoreland counties. The Bank’s services include accepting time and demand deposit accounts, making secured and unsecured commercial and consumer loans, providing letters of credit, and offering discount brokerage services, personal financial planning and credit card services. “

Other analysts have also recently issued reports about the company. BidaskClub cut S & T Bancorp from a buy rating to a hold rating in a report on Tuesday, December 12th. Keefe, Bruyette & Woods restated a hold rating and set a $41.50 price target on shares of S & T Bancorp in a report on Friday, October 20th. Boenning Scattergood restated a hold rating on shares of S & T Bancorp in a report on Friday, October 20th. Finally, Piper Jaffray Companies restated a hold rating and set a $36.50 price target on shares of S & T Bancorp in a report on Thursday, October 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. S & T Bancorp presently has a consensus rating of Hold and an average price target of $43.50.

S & T Bancorp (NASDAQ:STBA) opened at $41.86 on Thursday. S & T Bancorp has a 52 week low of $31.72 and a 52 week high of $43.17. The stock has a market capitalization of $1,460.00, a P/E ratio of 18.04 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.07.

S & T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.05. S & T Bancorp had a return on equity of 10.33% and a net margin of 32.00%. The business had revenue of $71.01 million for the quarter, compared to analysts’ expectations of $73.70 million. During the same period in the prior year, the business posted $0.59 earnings per share. analysts expect that S & T Bancorp will post 2.37 EPS for the current fiscal year.

In related news, Director Frank W. Jones sold 850 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $41.32, for a total value of $35,122.00. Following the completion of the sale, the director now directly owns 24,215 shares of the company’s stock, valued at approximately $1,000,563.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Miller sold 5,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $39.56, for a total value of $197,800.00. Following the completion of the sale, the director now directly owns 44,176 shares of the company’s stock, valued at $1,747,602.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,051 shares of company stock worth $485,000. 2.71% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STBA. Burt Wealth Advisors raised its position in S & T Bancorp by 3.1% in the 2nd quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock valued at $115,000 after buying an additional 100 shares during the last quarter. KBC Group NV purchased a new stake in S & T Bancorp in the 2nd quarter valued at $161,000. Victory Capital Management Inc. raised its position in S & T Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,722 shares of the financial services provider’s stock valued at $169,000 after buying an additional 708 shares during the last quarter. Advisor Group Inc. raised its position in S & T Bancorp by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after buying an additional 53 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in S & T Bancorp in the 3rd quarter valued at $216,000. 55.18% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “S & T Bancorp (NASDAQ:STBA) Downgraded by Zacks Investment Research to “Hold”” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/14/s-t-bancorp-stba-lowered-to-hold-at-zacks-investment-research.html.

S & T Bancorp Company Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.

Get a free copy of the Zacks research report on S & T Bancorp (STBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for S & T Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S & T Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply