S&T Bancorp, Inc. (STBA) Receives Hold Rating from Boenning Scattergood

Boenning Scattergood restated their hold rating on shares of S&T Bancorp, Inc. (NASDAQ:STBA) in a research report report published on Friday. Boenning Scattergood also issued estimates for S&T Bancorp’s Q4 2017 earnings at $0.64 EPS, FY2017 earnings at $2.38 EPS, Q1 2018 earnings at $0.60 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.64 EPS and FY2019 earnings at $2.60 EPS.

Several other research firms have also commented on STBA. Piper Jaffray Companies restated a hold rating and issued a $36.50 price target on shares of S&T Bancorp in a report on Thursday. Keefe, Bruyette & Woods restated a hold rating and issued a $38.00 price target on shares of S&T Bancorp in a report on Tuesday, October 3rd. Zacks Investment Research lowered shares of S&T Bancorp from a buy rating to a hold rating in a report on Wednesday, July 26th. Finally, BidaskClub upgraded shares of S&T Bancorp from a sell rating to a hold rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company has an average rating of Hold and a consensus price target of $39.17.

Shares of S&T Bancorp (NASDAQ:STBA) traded down 0.44% during midday trading on Friday, reaching $41.05. 115,029 shares of the company traded hands. S&T Bancorp has a 12 month low of $29.58 and a 12 month high of $42.30. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 18.04 and a beta of 0.86. The company’s 50 day moving average is $38.83 and its 200-day moving average is $36.38.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $73.70 million. During the same quarter last year, the firm posted $0.59 earnings per share. Equities research analysts forecast that S&T Bancorp will post $2.34 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.20. S&T Bancorp’s dividend payout ratio (DPR) is currently 34.33%.

In other news, insider Thomas J. Sposito II sold 1,250 shares of S&T Bancorp stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $35.29, for a total transaction of $44,112.50. Following the sale, the insider now owns 25,488 shares in the company, valued at $899,471.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David P. Ruddock sold 4,414 shares of S&T Bancorp stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $35.00, for a total transaction of $154,490.00. Following the sale, the insider now owns 10,004 shares in the company, valued at approximately $350,140. The disclosure for this sale can be found here. Insiders have sold 6,739 shares of company stock worth $239,098 in the last quarter. Insiders own 2.71% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of STBA. BlackRock Inc. raised its stake in shares of S&T Bancorp by 48,472.8% during the first quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock valued at $149,072,000 after purchasing an additional 4,299,536 shares during the period. Vanguard Group Inc. increased its stake in shares of S&T Bancorp by 3.3% in the first quarter. Vanguard Group Inc. now owns 3,189,834 shares of the financial services provider’s stock worth $110,368,000 after buying an additional 103,048 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of S&T Bancorp by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,603,236 shares of the financial services provider’s stock worth $55,472,000 after buying an additional 80,619 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of S&T Bancorp in the second quarter worth $1,760,000. Finally, State Street Corp increased its stake in shares of S&T Bancorp by 6.0% in the first quarter. State Street Corp now owns 817,552 shares of the financial services provider’s stock worth $28,292,000 after buying an additional 45,958 shares during the last quarter. Institutional investors own 53.82% of the company’s stock.

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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