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 research report report published on Monday morning.

S&T Bancorp Price Performance

Shares of STBA opened at $32.08 on Monday. S&T Bancorp has a 12-month low of $24.51 and a 12-month high of $36.28. The business has a 50-day simple moving average of $31.87 and a two-hundred day simple moving average of $30.04. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.23 billion, a PE ratio of 8.58 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. S&T Bancorp had a return on equity of 11.70% and a net margin of 27.03%. The business had revenue of $103.17 million during the quarter, compared to analysts’ expectations of $100.10 million. Analysts anticipate that S&T Bancorp will post 3.01 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.32 dividend on an annualized basis and a yield of 4.11%. S&T Bancorp’s payout ratio is presently 35.29%.

Institutional Investors Weigh In On S&T Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in STBA. Norges Bank acquired a new stake in shares of S&T Bancorp in the fourth quarter valued at about $10,239,000. JPMorgan Chase & Co. increased its stake in shares of S&T Bancorp by 682.0% in the fourth quarter. JPMorgan Chase & Co. now owns 282,846 shares of the financial services provider’s stock valued at $9,668,000 after buying an additional 246,675 shares during the period. BlackRock Inc. increased its stake in shares of S&T Bancorp by 4.0% in the first quarter. BlackRock Inc. now owns 5,749,220 shares of the financial services provider’s stock valued at $180,813,000 after buying an additional 220,245 shares during the period. Hsbc Holdings PLC increased its stake in shares of S&T Bancorp by 162.2% in the first quarter. Hsbc Holdings PLC now owns 298,507 shares of the financial services provider’s stock valued at $8,857,000 after buying an additional 184,677 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in shares of S&T Bancorp by 212.9% in the third quarter. Panagora Asset Management Inc. now owns 233,698 shares of the financial services provider’s stock valued at $6,329,000 after buying an additional 159,019 shares during the period. Institutional investors and hedge funds own 65.22% 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 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.