S&T Bancorp (NASDAQ:STBA) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of S&T Bancorp (NASDAQ:STBA) from a hold rating to a sell rating in a research note released on Saturday morning.

STBA has been the topic of several other reports. Janney Montgomery Scott raised shares of 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. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. DA Davidson started coverage on shares of S&T Bancorp in a research note on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective on the stock. Zacks Research cut shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Finally, Hovde Group raised their target price on shares of S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.40.

S&T Bancorp Trading Down 0.4%

Shares of S&T Bancorp stock opened at $40.20 on Friday. S&T Bancorp has a 12-month low of $30.84 and a 12-month high of $44.91. The stock has a market cap of $1.47 billion, a P/E ratio of 11.49 and a beta of 0.92. 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 business’s 50 day moving average is $42.09 and its 200-day moving average is $39.92.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The company had revenue of $105.90 million during the quarter, compared to the consensus estimate of $103.46 million. Equities research analysts predict that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, February 12th. S&T Bancorp’s payout ratio is currently 41.14%.

S&T Bancorp declared that its board has approved a stock buyback plan on Thursday, January 22nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of S&T Bancorp

A number of hedge funds have recently modified their holdings of STBA. Public Sector Pension Investment Board lifted its position in S&T Bancorp by 32.2% during the third quarter. Public Sector Pension Investment Board now owns 172,697 shares of the financial services provider’s stock worth $6,492,000 after acquiring an additional 42,015 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of S&T Bancorp during the second quarter worth approximately $3,193,000. Denali Advisors LLC grew its position in shares of S&T Bancorp by 82.0% in the third quarter. Denali Advisors LLC now owns 88,700 shares of the financial services provider’s stock valued at $3,334,000 after purchasing an additional 39,977 shares during the last quarter. Geode Capital Management LLC grew its position in shares of S&T Bancorp by 1.0% in the second quarter. Geode Capital Management LLC now owns 955,356 shares of the financial services provider’s stock valued at $36,134,000 after purchasing an additional 9,452 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of S&T Bancorp during the second quarter worth approximately $500,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

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.