S&T Bancorp, Inc. (NASDAQ:STBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “S & T BANCORP, INC. is a bank holding company which is engaged in general banking business. The Bank is a full service bank with its main office in Indiana, Pennsylvania, providing service to its customers through a branch of 34 offices located in Armstrong, Allegheny, Indiana, Jefferson, Clearfield and Westmoreland counties. The Bank’s services include accepting time and demand deposit accounts, making secured and unsecured commercial and consumer loans, providing letters of credit, and offering discount brokerage services, personal financial planning and credit card services. “
Separately, BidaskClub raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th.
Shares of S&T Bancorp (NASDAQ:STBA) opened at 38.58 on Wednesday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 16.98 and a beta of 0.83. S&T Bancorp has a 1-year low of $24.83 and a 1-year high of $39.84. The firm’s 50-day moving average is $36.02 and its 200-day moving average is $35.74.
S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The business had revenue of $72.84 million during the quarter, compared to analyst estimates of $71.98 million. S&T Bancorp had a net margin of 26.52% and a return on equity of 9.30%. During the same period in the prior year, the firm posted $0.49 earnings per share. Analysts forecast that S&T Bancorp will post $2.30 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in STBA. BNP Paribas Arbitrage SA raised its position in shares of S&T Bancorp by 1.5% in the first quarter. BNP Paribas Arbitrage SA now owns 7,422 shares of the financial services provider’s stock valued at $257,000 after buying an additional 112 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of S&T Bancorp by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 490,094 shares of the financial services provider’s stock valued at $16,957,000 after buying an additional 28,370 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of S&T Bancorp by 83.3% in the first quarter. Advisors Asset Management Inc. now owns 15,451 shares of the financial services provider’s stock valued at $535,000 after buying an additional 7,021 shares during the last quarter. First Trust Advisors LP raised its position in shares of S&T Bancorp by 1.5% in the first quarter. First Trust Advisors LP now owns 100,259 shares of the financial services provider’s stock valued at $3,469,000 after buying an additional 1,501 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of S&T Bancorp by 57.7% in the first quarter. LSV Asset Management now owns 130,300 shares of the financial services provider’s stock valued at $4,508,000 after buying an additional 47,700 shares during the last quarter. 54.18% of the stock is owned by hedge funds and other institutional investors.
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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