S & T Bancorp (STBA) Stock Rating Lowered by ValuEngine

S & T Bancorp (NASDAQ:STBA) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other equities analysts also recently weighed in on the company. BidaskClub downgraded S & T Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Zacks Investment Research downgraded S & T Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Boenning Scattergood restated a “hold” rating on shares of S & T Bancorp in a research report on Friday, October 19th. Finally, DA Davidson initiated coverage on S & T Bancorp in a research report on Thursday, August 23rd. They issued a “buy” rating and a $54.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. S & T Bancorp presently has a consensus rating of “Hold” and a consensus price target of $48.00.

NASDAQ STBA opened at $39.80 on Friday. The company has a market capitalization of $1.39 billion, a PE ratio of 16.11, a PEG ratio of 1.32 and a beta of 0.68. 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 released its earnings results on Thursday, October 18th. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. The business had revenue of $71.30 million for the quarter, compared to the consensus estimate of $72.99 million. S & T Bancorp had a return on equity of 11.23% and a net margin of 26.45%. On average, research analysts predict that S & T Bancorp will post 3.02 earnings per share for the current fiscal year.

In related news, Director Christina Anne Cassotis acquired 1,457 shares of S & T Bancorp stock in a transaction that occurred on Wednesday, August 22nd. The shares were purchased at an average price of $46.49 per share, for a total transaction of $67,735.93. Following the completion of the transaction, the director now owns 1,636 shares in the company, valued at approximately $76,057.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank W. Jones sold 600 shares of S & T Bancorp stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $45.58, for a total value of $27,348.00. Following the transaction, the director now owns 24,387 shares in the company, valued at approximately $1,111,559.46. The disclosure for this sale can be found here. Company insiders own 2.71% of the company’s stock.

A number of institutional investors have recently made changes to their positions in STBA. Wells Fargo & Company MN lifted its position in S & T Bancorp by 11.8% during the first quarter. Wells Fargo & Company MN now owns 65,068 shares of the financial services provider’s stock worth $2,598,000 after buying an additional 6,866 shares in the last quarter. California Public Employees Retirement System lifted its position in S & T Bancorp by 27.8% during the first quarter. California Public Employees Retirement System now owns 32,629 shares of the financial services provider’s stock worth $1,303,000 after buying an additional 7,095 shares in the last quarter. Russell Investments Group Ltd. lifted its position in S & T Bancorp by 10.1% during the first quarter. Russell Investments Group Ltd. now owns 50,414 shares of the financial services provider’s stock worth $2,014,000 after buying an additional 4,606 shares in the last quarter. Millennium Management LLC lifted its position in S & T Bancorp by 109.8% during the first quarter. Millennium Management LLC now owns 21,331 shares of the financial services provider’s stock worth $852,000 after buying an additional 11,166 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in S & T Bancorp by 5.0% during the first quarter. Legal & General Group Plc now owns 76,391 shares of the financial services provider’s stock worth $3,068,000 after buying an additional 3,623 shares in the last quarter. Hedge funds and other institutional investors own 60.14% 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 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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