S & T Bancorp (STBA) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of S & T Bancorp (NASDAQ:STBA) from a hold rating to a buy rating in a research note published on Thursday.

Several other research analysts also recently commented on STBA. Zacks Investment Research upgraded S & T Bancorp from a hold rating to a buy rating and set a $50.00 target price for the company in a research note on Tuesday, August 7th. DA Davidson began coverage on S & T Bancorp in a research report on Thursday, August 23rd. They set a buy rating and a $54.00 price target for the company. Boenning Scattergood reiterated a hold rating on shares of S & T Bancorp in a research report on Friday, October 19th. Finally, ValuEngine downgraded S & T Bancorp from a hold rating to a sell rating in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $48.00.

STBA traded up $0.10 during trading hours on Thursday, hitting $41.26. The stock had a trading volume of 523 shares, compared to its average volume of 80,164. S & T Bancorp has a 1 year low of $37.79 and a 1 year high of $47.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $1.44 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 1.36 and a beta of 0.68.

S & T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, October 18th. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. S & T Bancorp had a return on equity of 11.23% and a net margin of 26.45%. The business had revenue of $71.30 million during the quarter, compared to the consensus estimate of $72.99 million. As a group, research analysts predict that S & T Bancorp will post 3.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, October 31st. This is an increase from S & T Bancorp’s previous quarterly dividend of $0.25. S & T Bancorp’s dividend payout ratio (DPR) is 43.72%.

In other news, Director Robert Edward Kane acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were bought at an average cost of $41.13 per share, with a total value of $41,130.00. Following the acquisition, the director now owns 4,775 shares in the company, valued at approximately $196,395.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Miller sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $46.44, for a total value of $232,200.00. Following the transaction, the director now directly owns 39,948 shares in the company, valued at $1,855,185.12. The disclosure for this sale can be found here. Company insiders own 2.71% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of S & T Bancorp by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 186,091 shares of the financial services provider’s stock valued at $8,047,000 after buying an additional 1,623 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of S & T Bancorp by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 10,062 shares of the financial services provider’s stock valued at $435,000 after buying an additional 1,382 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of S & T Bancorp by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,905,574 shares of the financial services provider’s stock valued at $82,397,000 after buying an additional 61,048 shares in the last quarter. Northern Trust Corp raised its holdings in shares of S & T Bancorp by 0.9% during the 2nd quarter. Northern Trust Corp now owns 948,156 shares of the financial services provider’s stock valued at $40,999,000 after buying an additional 8,222 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in shares of S & T Bancorp by 35.3% during the 2nd quarter. Citadel Advisors LLC now owns 20,705 shares of the financial services provider’s stock valued at $896,000 after buying an additional 5,404 shares in the last quarter. 60.35% of the stock is currently owned by 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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