S&T Bancorp, Inc. (STBA) Upgraded at BidaskClub
BidaskClub upgraded shares of S&T Bancorp, Inc. (NASDAQ:STBA) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.
A number of other brokerages have also commented on STBA. Zacks Investment Research lowered S&T Bancorp from a buy rating to a hold rating in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods reissued a hold rating and set a $38.50 price target on shares of S&T Bancorp in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $37.83.
S&T Bancorp (STBA) opened at 35.65 on Friday. S&T Bancorp has a 1-year low of $25.85 and a 1-year high of $39.84. The firm’s 50-day moving average is $36.53 and its 200 day moving average is $35.58. The firm has a market cap of $1.25 billion, a PE ratio of 15.67 and a beta of 0.84.
S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.09. S&T Bancorp had a return on equity of 9.30% and a net margin of 26.52%. The firm had revenue of $72.84 million for the quarter, compared to analyst estimates of $71.98 million. During the same period last year, the firm posted $0.49 earnings per share. On average, equities analysts forecast that S&T Bancorp will post $2.30 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.24%. S&T Bancorp’s dividend payout ratio (DPR) is 35.24%.
In other news, insider Thomas J. Sposito II sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $35.29, for a total transaction of $44,112.50. Following the completion of the transaction, the insider now directly owns 25,488 shares in the company, valued at $899,471.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank W. Jones sold 1,075 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $37.67, for a total value of $40,495.25. Following the transaction, the director now owns 25,065 shares of the company’s stock, valued at $944,198.55. The disclosure for this sale can be found here. Insiders have sold 6,739 shares of company stock valued at $239,098 over the last 90 days. 2.71% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of S&T Bancorp during the first quarter worth about $100,000. Burt Wealth Advisors increased its position in shares of S&T Bancorp by 3.1% in the second quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock worth $115,000 after buying an additional 100 shares during the period. State of Alaska Department of Revenue increased its position in shares of S&T Bancorp by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,850 shares of the financial services provider’s stock worth $133,000 after buying an additional 70 shares during the period. Victory Capital Management Inc. increased its position in shares of S&T Bancorp by 5.1% in the first quarter. Victory Capital Management Inc. now owns 4,014 shares of the financial services provider’s stock worth $139,000 after buying an additional 196 shares during the period. Finally, KBC Group NV bought a new position in shares of S&T Bancorp during the second quarter worth about $161,000. Institutional investors own 53.84% of the company’s stock.
S&T Bancorp Company Profile
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.
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