S & T Bancorp (STBA) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of S & T Bancorp (NASDAQ:STBA) from a buy rating to a hold rating in a research note released on Thursday.

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. “

A number of other brokerages have also recently weighed in on STBA. Boenning Scattergood reaffirmed a hold rating on shares of S & T Bancorp in a research report on Friday, October 20th. Piper Jaffray Companies reaffirmed a hold rating and set a $36.50 price target on shares of S & T Bancorp in a research report on Thursday, October 19th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $41.50 price target on shares of S & T Bancorp in a research report on Friday, October 20th. Finally, BidaskClub cut shares of S & T Bancorp from a buy rating to a hold rating in a research report on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $41.67.

Shares of S & T Bancorp (NASDAQ:STBA) opened at $40.33 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07. S & T Bancorp has a 12-month low of $31.72 and a 12-month high of $43.17. The firm has a market cap of $1,410.00, a price-to-earnings ratio of 17.38 and a beta of 0.86.

S & T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. S & T Bancorp had a net margin of 26.44% and a return on equity of 9.41%. The firm had revenue of $71.01 million during the quarter, compared to analysts’ expectations of $73.70 million. During the same period in the prior year, the company earned $0.59 EPS. analysts anticipate that S & T Bancorp will post 2.37 earnings per share for the current year.

In other S & T Bancorp news, Director David Krieger sold 1,201 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $41.78, for a total value of $50,177.78. Following the transaction, the director now owns 18,045 shares in the company, valued at approximately $753,920.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd D. Brice sold 5,000 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $40.38, for a total transaction of $201,900.00. Following the completion of the transaction, the chief executive officer now owns 85,989 shares in the company, valued at approximately $3,472,235.82. The disclosure for this sale can be found here. Insiders sold a total of 12,051 shares of company stock worth $485,000 in the last quarter. 2.71% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Burt Wealth Advisors raised its stake in shares of S & T Bancorp by 3.1% in the 2nd quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 100 shares in the last quarter. KBC Group NV acquired a new stake in shares of S & T Bancorp in the 2nd quarter valued at about $161,000. Victory Capital Management Inc. raised its stake in shares of S & T Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,722 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 708 shares in the last quarter. Advisor Group Inc. raised its stake in shares of S & T Bancorp by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 53 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of S & T Bancorp in the 3rd quarter valued at about $216,000. Hedge funds and other institutional investors own 55.18% of the company’s stock.

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About S & T Bancorp

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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