DA Davidson Upgrades S&T Bancorp (NASDAQ:STBA) to Hold

S&T Bancorp (NASDAQ:STBA) was upgraded by investment analysts at DA Davidson to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the stock. Hovde Group raised their price objective on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday. Piper Sandler reduced their target price on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Zacks Research raised S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, S&T Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $44.40.

S&T Bancorp Stock Performance

NASDAQ:STBA opened at $44.06 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $41.83 and its 200 day simple moving average is $39.62. The stock has a market cap of $1.68 billion, a P/E ratio of 12.59 and a beta of 0.93. S&T Bancorp has a twelve month low of $30.84 and a twelve month high of $44.87.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. As a group, research analysts predict that S&T Bancorp will post 3.05 EPS for the current year.

S&T Bancorp declared that its Board of Directors has initiated a share buyback plan on Thursday, January 22nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On S&T Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Costello Asset Management INC bought a new position in S&T Bancorp in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of S&T Bancorp by 5,223.5% in the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after buying an additional 888 shares in the last quarter. Torren Management LLC purchased a new stake in shares of S&T Bancorp during the fourth quarter valued at approximately $37,000. Smithfield Trust Co bought a new stake in shares of S&T Bancorp during the fourth quarter valued at approximately $40,000. Finally, Versant Capital Management Inc increased its position in shares of S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 384 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.