S&T Bancorp, Inc. (NASDAQ:STBA) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
Separately, Zacks Investment Research raised S&T Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Thursday, March 30th.
S&T Bancorp (NASDAQ:STBA) opened at 37.49 on Tuesday. The company has a market cap of $1.31 billion, a P/E ratio of 16.50 and a beta of 0.83. S&T Bancorp has a 52 week low of $24.83 and a 52 week high of $39.84. The firm has a 50-day moving average price of $36.26 and a 200-day moving average price of $35.76.
S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.65 EPS for the quarter, topping the Zacks’ 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 return on equity of 9.30% and a net margin of 26.52%. During the same quarter last year, the company earned $0.49 EPS. Equities research analysts anticipate that S&T Bancorp will post $2.30 EPS for the current fiscal year.
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In other S&T Bancorp news, Director Frank W. Jones sold 1,075 shares of S&T Bancorp stock in a transaction on Monday, July 24th. The stock was sold at an average price of $37.67, for a total value of $40,495.25. Following the completion of the sale, the director now owns 25,065 shares of the company’s stock, valued at approximately $944,198.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.31% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in S&T Bancorp during the first quarter worth about $100,000. State of Alaska Department of Revenue boosted its stake in 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. boosted its stake in 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. OppenheimerFunds Inc. acquired a new stake in S&T Bancorp during the first quarter worth about $227,000. Finally, First Financial Equity Corporation acquired a new stake in S&T Bancorp during the first quarter worth about $256,000. 54.18% 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 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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