S&T Bancorp (NASDAQ:STBA) Downgraded by StockNews.com

StockNews.com downgraded shares of S&T Bancorp (NASDAQ:STBA) from a hold rating to a sell rating in a report published on Wednesday.

S&T Bancorp Price Performance

NASDAQ STBA opened at $32.88 on Wednesday. The company has a 50 day simple moving average of $31.19 and a 200-day simple moving average of $31.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.31 and a beta of 0.78. S&T Bancorp has a 52-week low of $24.51 and a 52-week high of $36.28.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $96.31 million during the quarter, compared to analyst estimates of $96.30 million. S&T Bancorp had a net margin of 24.68% and a return on equity of 10.86%. Equities research analysts predict that S&T Bancorp will post 3.02 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.01%. The ex-dividend date was Wednesday, May 8th. S&T Bancorp’s payout ratio is presently 37.39%.

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp raised its position in S&T Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock valued at $1,073,000 after acquiring an additional 432 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in S&T Bancorp by 6.0% during the third quarter. Commonwealth Equity Services LLC now owns 9,104 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 512 shares during the last quarter. Diversified Trust Co grew its holdings in S&T Bancorp by 5.7% during the fourth quarter. Diversified Trust Co now owns 10,786 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 584 shares during the last quarter. Swiss National Bank grew its holdings in S&T Bancorp by 0.8% during the third quarter. Swiss National Bank now owns 85,700 shares of the financial services provider’s stock valued at $2,321,000 after purchasing an additional 700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in S&T Bancorp by 17.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,508 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 835 shares during the last quarter. Institutional investors 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.