S & T Bancorp (NASDAQ:STBA) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of S & T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

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. “

Several other brokerages have also issued reports on STBA. ValuEngine lowered shares of S & T Bancorp from a hold rating to a sell rating in a research note on Friday, June 21st. BidaskClub raised shares of S & T Bancorp from a strong sell rating to a sell rating in a research note on Thursday, September 12th.

STBA opened at $37.16 on Tuesday. S & T Bancorp has a twelve month low of $33.30 and a twelve month high of $46.28. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $35.45 and a 200-day moving average of $37.89. The stock has a market cap of $1.28 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.28 and a beta of 0.68.

S & T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. S & T Bancorp had a net margin of 30.00% and a return on equity of 11.35%. The company had revenue of $73.73 million during the quarter, compared to analysts’ expectations of $72.62 million. Sell-side analysts anticipate that S & T Bancorp will post 2.93 EPS for the current fiscal year.

In other S & T Bancorp news, insider David P. Ruddock sold 1,768 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $37.27, for a total value of $65,893.36. Following the transaction, the insider now directly owns 9,549 shares of the company’s stock, valued at $355,891.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in STBA. Nuveen Asset Management LLC bought a new position in shares of S & T Bancorp in the second quarter valued at $5,075,000. Morgan Stanley grew its stake in S & T Bancorp by 80.4% during the second quarter. Morgan Stanley now owns 177,190 shares of the financial services provider’s stock valued at $6,641,000 after acquiring an additional 78,995 shares in the last quarter. Bank of America Corp DE grew its stake in S & T Bancorp by 116.9% during the second quarter. Bank of America Corp DE now owns 77,839 shares of the financial services provider’s stock valued at $2,917,000 after acquiring an additional 41,952 shares in the last quarter. Renaissance Technologies LLC grew its stake in S & T Bancorp by 62.3% during the second quarter. Renaissance Technologies LLC now owns 92,000 shares of the financial services provider’s stock valued at $3,448,000 after acquiring an additional 35,300 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in S & T Bancorp by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 408,221 shares of the financial services provider’s stock valued at $15,447,000 after acquiring an additional 30,169 shares in the last quarter. 60.89% of the stock is currently owned by hedge funds and other institutional investors.

About S & T Bancorp

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.

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