S&T Bancorp Inc. (NASDAQ:STBA) was downgraded by research analysts at Boenning Scattergood from an “outperform” rating to a “neutral” rating in a research report issued on Thursday.

Several other equities analysts have also issued reports on the company. Piper Jaffray Cos. raised S&T Bancorp from a “neutral” rating to an “overweight” rating and set a $32.00 price target on the stock in a research note on Monday, October 24th. Zacks Investment Research raised S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 18th.

Shares of S&T Bancorp (NASDAQ:STBA) opened at 32.95 on Thursday. The stock’s 50 day moving average is $30.07 and its 200-day moving average is $27.21. S&T Bancorp has a 12-month low of $23.06 and a 12-month high of $36.47. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 16.11 and a beta of 0.94.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.09. S&T Bancorp had a return on equity of 8.71% and a net margin of 25.70%. During the same period last year, the firm earned $0.54 EPS. On average, analysts anticipate that S&T Bancorp will post $2.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, November 1st. S&T Bancorp’s dividend payout ratio is presently 39.22%.

In related news, CEO Todd D. Brice purchased 2,004 shares of the stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average cost of $29.94 per share, with a total value of $59,999.76. Following the transaction, the chief executive officer now owns 85,225 shares of the company’s stock, valued at approximately $2,551,636.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Thomas Gibson sold 40,344 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $33.50, for a total value of $1,351,524.00. Following the completion of the sale, the director now directly owns 302,486 shares of the company’s stock, valued at $10,133,281. The disclosure for this sale can be found here. Insiders own 3.31% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in STBA. BlackRock Fund Advisors raised its stake in S&T Bancorp by 8.1% in the third quarter. BlackRock Fund Advisors now owns 2,379,387 shares of the financial services provider’s stock worth $68,978,000 after buying an additional 177,272 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in S&T Bancorp by 51.0% in the second quarter. Wedge Capital Management L L P NC now owns 448,661 shares of the financial services provider’s stock worth $10,970,000 after buying an additional 151,535 shares during the last quarter. Perkins Investment Management LLC raised its stake in S&T Bancorp by 25.2% in the third quarter. Perkins Investment Management LLC now owns 672,857 shares of the financial services provider’s stock worth $19,506,000 after buying an additional 135,546 shares during the last quarter. Vanguard Group Inc. raised its stake in S&T Bancorp by 4.0% in the second quarter. Vanguard Group Inc. now owns 2,872,282 shares of the financial services provider’s stock worth $70,227,000 after buying an additional 110,031 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in S&T Bancorp by 2.8% in the second quarter. Macquarie Group Ltd. now owns 1,105,702 shares of the financial services provider’s stock worth $27,034,000 after buying an additional 30,370 shares during the last quarter. 51.41% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Company Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through its three subsidiaries: S&T Bank, 9th Street Holdings, Inc and STBA Capital Trust I. S&T operates in three segments: Community Banking, Wealth Management and Insurance. The Company’s community banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans.

5 Day Chart for NASDAQ:STBA

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