S&T Bancorp Inc. (STBA) Rating Lowered to Neutral at Piper Jaffray Cos.
S&T Bancorp Inc. (NASDAQ:STBA) was downgraded by equities researchers at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a report issued on Wednesday.
Separately, Zacks Investment Research upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 18th.
Shares of S&T Bancorp (NASDAQ:STBA) opened at 33.22 on Wednesday. S&T Bancorp has a 52-week low of $23.06 and a 52-week high of $36.47. The stock has a market capitalization of $1.16 billion, a P/E ratio of 16.24 and a beta of 0.94. The stock has a 50 day moving average of $30.19 and a 200-day moving average of $27.25.
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, topping analysts’ consensus estimates 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 in the prior year, the firm earned $0.54 earnings per share. Analysts predict that S&T Bancorp will post $2.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.41%. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, November 1st. S&T Bancorp’s dividend payout ratio (DPR) is 39.22%.
In other news, Director Frank W. Jones sold 1,326 shares of S&T Bancorp stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $30.05, for a total transaction of $39,846.30. Following the completion of the sale, the director now directly owns 26,526 shares in the company, valued at $797,106.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Thomas Gibson sold 10,547 shares of S&T Bancorp stock in a transaction on Monday, November 14th. The stock was sold at an average price of $34.78, for a total value of $366,824.66. Following the sale, the director now owns 291,939 shares of the company’s stock, valued at $10,153,638.42. The disclosure for this sale can be found here. Insiders own 3.31% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. PineBridge Investments L.P. increased its stake in S&T Bancorp by 4.1% in the second quarter. PineBridge Investments L.P. now owns 4,426 shares of the financial services provider’s stock valued at $108,000 after buying an additional 173 shares during the period. Advisors Asset Management Inc. boosted its position in shares of S&T Bancorp by 3,109.5% in the third quarter. Advisors Asset Management Inc. now owns 3,723 shares of the financial services provider’s stock valued at $108,000 after buying an additional 3,607 shares during the last quarter. Advisor Group Inc. acquired a new position in shares of S&T Bancorp during the second quarter valued at about $113,000. Victory Capital Management Inc. acquired a new position in shares of S&T Bancorp during the third quarter valued at about $113,000. Finally, Woodmont Investment Counsel LLC acquired a new position in shares of S&T Bancorp during the third quarter valued at about $116,000. Institutional investors and hedge funds own 51.41% of the company’s stock.
About S&T Bancorp
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.
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