S&T Bancorp (NASDAQ:STBA) Upgraded at StockNews.com

StockNews.com upgraded shares of S&T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a report published on Monday.

S&T Bancorp Stock Performance

Shares of S&T Bancorp stock opened at $31.76 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $31.87 and a two-hundred day moving average price of $30.02. S&T Bancorp has a 1-year low of $24.51 and a 1-year high of $36.28. The company has a market cap of $1.21 billion, a P/E ratio of 8.49 and a beta of 0.77.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.86 by $0.10. The company had revenue of $103.17 million during the quarter, compared to the consensus estimate of $100.10 million. S&T Bancorp had a return on equity of 11.70% and a net margin of 27.03%. As a group, analysts anticipate that S&T Bancorp will post 3.01 EPS for the current year.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a $0.33 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.16%. S&T Bancorp’s dividend payout ratio (DPR) is presently 35.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in S&T Bancorp by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 510,968 shares of the financial services provider’s stock worth $15,115,000 after acquiring an additional 1,900 shares in the last quarter. Citigroup Inc. raised its stake in shares of S&T Bancorp by 10.9% during the first quarter. Citigroup Inc. now owns 35,073 shares of the financial services provider’s stock valued at $1,038,000 after acquiring an additional 3,456 shares during the last quarter. Bank of Montreal Can raised its stake in shares of S&T Bancorp by 89.3% during the first quarter. Bank of Montreal Can now owns 30,481 shares of the financial services provider’s stock valued at $931,000 after acquiring an additional 14,381 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of S&T Bancorp by 49.6% during the first quarter. MetLife Investment Management LLC now owns 21,802 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 7,227 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in S&T Bancorp by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,924 shares of the financial services provider’s stock worth $1,003,000 after buying an additional 4,183 shares in the last quarter. 65.22% 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 engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.