S & T Bancorp (NASDAQ:STBA) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.
STBA has been the subject of several other research reports. Zacks Investment Research upgraded S & T Bancorp from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, August 7th. DA Davidson assumed coverage on S & T Bancorp in a report on Thursday, August 23rd. They issued a “buy” rating and a $54.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.13.
S & T Bancorp stock traded down $1.78 during midday trading on Thursday, reaching $39.37. 151,357 shares of the company were exchanged, compared to its average volume of 93,267. The stock has a market cap of $1.52 billion, a PE ratio of 15.94 and a beta of 0.61. S & T Bancorp has a 1 year low of $37.79 and a 1 year high of $47.77. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.
S & T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The firm had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $70.06 million. S & T Bancorp had a return on equity of 10.41% and a net margin of 24.39%. On average, equities analysts predict that S & T Bancorp will post 2.88 EPS for the current year.
In other S & T Bancorp news, Director Frank W. Jones sold 600 shares of S & T Bancorp stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $45.58, for a total value of $27,348.00. Following the completion of the sale, the director now owns 24,387 shares in the company, valued at approximately $1,111,559.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James C. Miller sold 5,000 shares of S & T Bancorp stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $46.44, for a total value of $232,200.00. Following the completion of the sale, the director now owns 39,948 shares of the company’s stock, valued at approximately $1,855,185.12. The disclosure for this sale can be found here. 2.53% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of STBA. Wells Fargo & Company MN grew its holdings in S & T Bancorp by 11.8% in the 1st quarter. Wells Fargo & Company MN now owns 65,068 shares of the financial services provider’s stock valued at $2,598,000 after buying an additional 6,866 shares during the period. SG Americas Securities LLC purchased a new stake in shares of S & T Bancorp during the 1st quarter worth about $142,000. Schwab Charles Investment Management Inc. grew its holdings in shares of S & T Bancorp by 3.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 184,468 shares of the financial services provider’s stock worth $7,368,000 after purchasing an additional 5,381 shares during the period. BlackRock Inc. grew its holdings in shares of S & T Bancorp by 1.9% during the 1st quarter. BlackRock Inc. now owns 4,545,636 shares of the financial services provider’s stock worth $181,552,000 after purchasing an additional 84,918 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of S & T Bancorp by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 93,395 shares of the financial services provider’s stock worth $3,730,000 after purchasing an additional 2,690 shares during the period. Institutional investors own 60.40% of the company’s stock.
About S & T Bancorp
S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.
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