S&T Bancorp (NASDAQ:STBA) Raised to “Hold” at Wall Street Zen

S&T Bancorp (NASDAQ:STBA) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

STBA has been the topic of a number of other research reports. Piper Sandler lifted their price objective on shares of S&T Bancorp from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Hovde Group reissued a “market perform” rating and set a $54.00 target price (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research note on Friday, July 24th. Zacks Research downgraded shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Finally, DA Davidson raised their price target on shares of S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, S&T Bancorp presently has an average rating of “Hold” and a consensus price target of $51.60.

S&T Bancorp Trading Up 0.7%

Shares of STBA opened at $48.41 on Friday. S&T Bancorp has a twelve month low of $34.38 and a twelve month high of $53.50. The firm has a market capitalization of $1.71 billion, a P/E ratio of 12.88 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $50.01 and its 200 day simple moving average is $47.56.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. The company had revenue of $105.24 million during the quarter, compared to the consensus estimate of $104.43 million. S&T Bancorp had a net margin of 24.51% and a return on equity of 9.74%. On average, equities research analysts forecast that S&T Bancorp will post 3.95 earnings per share for the current year.

S&T Bancorp declared that its board has approved a stock buyback plan on Thursday, July 23rd that allows the company to repurchase $100.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at S&T Bancorp

In related news, Director William Hieb sold 11,979 shares of S&T Bancorp stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total value of $615,001.86. Following the completion of the sale, the director owned 17,344 shares in the company, valued at approximately $890,440.96. The trade was a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in S&T Bancorp by 5.0% during the first quarter. Royal Bank of Canada now owns 5,675 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 269 shares during the last quarter. Amundi boosted its holdings in S&T Bancorp by 4.2% in the second quarter. Amundi now owns 6,822 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 273 shares during the period. GAMMA Investing LLC increased its stake in S&T Bancorp by 16.4% during the second quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 285 shares during the last quarter. Inspire Investing LLC increased its stake in S&T Bancorp by 3.6% during the first quarter. Inspire Investing LLC now owns 12,270 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 423 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in S&T Bancorp during the second quarter valued at $29,000. 65.22% of the stock is currently owned by institutional investors.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania. Its principal subsidiary, S&T Bank, provides banking and financial services to consumers, businesses and institutions.

S&T Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and mortgage services. Through its wealth-management and trust operations, the bank also provides investment management, financial planning, fiduciary and estate-related services.

Founded in 1902, S&T Bancorp serves customers through a network of offices and digital banking channels in western and central Pennsylvania and eastern Ohio.