BidaskClub Downgrades S & T Bancorp (NASDAQ:STBA) to Hold

S & T Bancorp (NASDAQ:STBA) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently commented on STBA. ValuEngine raised S & T Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded S & T Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Tuesday, December 31st.

NASDAQ STBA traded up $0.37 during trading hours on Tuesday, hitting $40.12. The company had a trading volume of 57,867 shares, compared to its average volume of 206,831. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.33 and a beta of 0.66. The firm’s 50 day moving average is $39.48 and its 200 day moving average is $37.36. S & T Bancorp has a fifty-two week low of $33.30 and a fifty-two week high of $42.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99.

S & T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.03. The company had revenue of $74.26 million for the quarter, compared to analysts’ expectations of $73.81 million. S & T Bancorp had a net margin of 28.32% and a return on equity of 10.75%. On average, equities analysts anticipate that S & T Bancorp will post 3.01 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Virginia Retirement Systems ET AL increased its stake in S & T Bancorp by 18.0% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 23,600 shares of the financial services provider’s stock valued at $862,000 after buying an additional 3,600 shares during the last quarter. Paloma Partners Management Co bought a new stake in S & T Bancorp during the second quarter worth $591,000. California Public Employees Retirement System boosted its position in S & T Bancorp by 57.1% in the third quarter. California Public Employees Retirement System now owns 87,242 shares of the financial services provider’s stock worth $3,187,000 after purchasing an additional 31,722 shares during the last quarter. Resources Management Corp CT ADV purchased a new position in S & T Bancorp in the third quarter worth $570,000. Finally, California State Teachers Retirement System grew its stake in S & T Bancorp by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 52,617 shares of the financial services provider’s stock valued at $1,922,000 after purchasing an additional 629 shares during the period. Institutional investors own 62.03% 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.

Further Reading: Portfolio Manager

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