S & T Bancorp (NASDAQ:STBA) Downgraded by BidaskClub to Hold

BidaskClub downgraded shares of S & T Bancorp (NASDAQ:STBA) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

Other research analysts have also issued research reports about the company. ValuEngine upgraded S & T Bancorp from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded S & T Bancorp from a hold rating to a buy rating and set a $45.00 target price on the stock in a research report on Tuesday, December 31st.

Shares of NASDAQ:STBA traded down $0.33 during midday trading on Tuesday, reaching $39.70. 3,648 shares of the company’s stock traded hands, compared to its average volume of 175,632. S & T Bancorp has a 1 year low of $33.30 and a 1 year high of $42.02. The company has a market cap of $1.37 billion, a P/E ratio of 13.21 and a beta of 0.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day simple moving average of $39.47 and a two-hundred day simple moving average of $37.34.

S & T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. S & T Bancorp had a return on equity of 10.75% and a net margin of 28.32%. The firm had revenue of $74.26 million for the quarter, compared to analyst estimates of $73.81 million. As a group, research analysts forecast that S & T Bancorp will post 3.01 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL raised its stake in S & T Bancorp by 18.0% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 23,600 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 3,600 shares during the last quarter. Paloma Partners Management Co acquired a new position in S & T Bancorp in the 2nd quarter valued at $591,000. California Public Employees Retirement System raised its stake in S & T Bancorp by 57.1% in the 3rd quarter. California Public Employees Retirement System now owns 87,242 shares of the financial services provider’s stock valued at $3,187,000 after purchasing an additional 31,722 shares during the last quarter. Resources Management Corp CT ADV acquired a new stake in shares of S & T Bancorp in the 3rd quarter worth $570,000. Finally, California State Teachers Retirement System increased its stake in shares of S & T Bancorp by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 52,617 shares of the financial services provider’s stock worth $1,922,000 after acquiring an additional 629 shares during the last quarter. 62.03% of the stock is 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 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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