BidaskClub Lowers S & T Bancorp (NASDAQ:STBA) to Strong Sell

BidaskClub downgraded shares of S & T Bancorp (NASDAQ:STBA) from a sell rating to a strong sell rating in a report issued on Thursday morning, BidAskClub reports.

Several other research analysts have also issued reports on STBA. Stephens began coverage on S & T Bancorp in a research report on Monday, June 1st. They set an equal weight rating and a $27.50 target price on the stock. Raymond James reissued a neutral rating on shares of S & T Bancorp in a research report on Thursday, September 10th. Zacks Investment Research lowered S & T Bancorp from a hold rating to a strong sell rating in a research note on Tuesday, August 4th. Finally, ValuEngine downgraded S & T Bancorp from a hold rating to a sell rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company presently has an average rating of Sell and a consensus price target of $36.25.

NASDAQ STBA opened at $19.17 on Thursday. S & T Bancorp has a 52 week low of $18.56 and a 52 week high of $41.53. The company has a 50 day moving average price of $20.65 and a 200 day moving average price of $23.77. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $752.46 million, a PE ratio of 21.30 and a beta of 0.57.

S & T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. S & T Bancorp had a net margin of 7.60% and a return on equity of 7.66%. The business had revenue of $85.37 million for the quarter, compared to analyst estimates of $83.35 million. On average, equities research analysts anticipate that S & T Bancorp will post 1.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend was Wednesday, August 12th. S & T Bancorp’s payout ratio is 36.25%.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of S & T Bancorp by 5.5% during the 1st quarter. BlackRock Inc. now owns 5,766,733 shares of the financial services provider’s stock worth $157,546,000 after purchasing an additional 299,576 shares during the period. Charles Schwab Investment Management Inc. grew its position in S & T Bancorp by 115.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 557,774 shares of the financial services provider’s stock valued at $13,080,000 after buying an additional 298,571 shares during the period. State Street Corp increased its holdings in S & T Bancorp by 11.4% in the first quarter. State Street Corp now owns 1,325,837 shares of the financial services provider’s stock valued at $36,222,000 after buying an additional 135,222 shares in the last quarter. First Trust Advisors LP increased its holdings in S & T Bancorp by 156.3% in the first quarter. First Trust Advisors LP now owns 133,670 shares of the financial services provider’s stock valued at $3,652,000 after buying an additional 81,522 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of S & T Bancorp by 4.0% in the second quarter. Macquarie Group Ltd. now owns 1,283,438 shares of the financial services provider’s stock worth $30,096,000 after acquiring an additional 48,877 shares during the period. Hedge funds and other institutional investors own 59.71% of the company’s stock.

S & T Bancorp Company Profile

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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