S&T Bancorp Inc. (STBA) Lifted to Hold at Zacks Investment Research
S&T Bancorp Inc. (NASDAQ:STBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “S & T BANCORP, INC. is a bank holding company which is engaged in general banking business. The Bank is a full service bank with its main office in Indiana, Pennsylvania, providing service to its customers through a branch of 34 offices located in Armstrong, Allegheny, Indiana, Jefferson, Clearfield and Westmoreland counties. The Bank’s services include accepting time and demand deposit accounts, making secured and unsecured commercial and consumer loans, providing letters of credit, and offering discount brokerage services, personal financial planning and credit card services. “
Shares of S&T Bancorp (NASDAQ:STBA) opened at 28.855 on Thursday. The stock’s 50 day moving average price is $27.74 and its 200 day moving average price is $25.96. The company has a market cap of $1.01 billion, a P/E ratio of 14.507 and a beta of 1.14. S&T Bancorp has a 12-month low of $23.06 and a 12-month high of $34.00.
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S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. S&T Bancorp had a return on equity of 8.61% and a net margin of 25.47%. On average, analysts forecast that S&T Bancorp will post $1.96 EPS for the current year.
Several institutional investors have recently made changes to their positions in STBA. PineBridge Investments L.P. raised its position in S&T Bancorp by 4.1% in the second quarter. PineBridge Investments L.P. now owns 4,426 shares of the financial services provider’s stock valued at $108,000 after buying an additional 173 shares during the last quarter. Advisor Group Inc. bought a new position in S&T Bancorp during the second quarter valued at about $113,000. Teacher Retirement System of Texas raised its position in S&T Bancorp by 20.9% in the second quarter. Teacher Retirement System of Texas now owns 4,912 shares of the financial services provider’s stock valued at $120,000 after buying an additional 849 shares during the last quarter. Bank of Montreal Can bought a new position in S&T Bancorp during the second quarter valued at about $121,000. Finally, Tower Research Capital LLC TRC bought a new position in S&T Bancorp during the second quarter valued at about $143,000. Hedge funds and other institutional investors own 50.73% of the company’s stock.
About S&T Bancorp
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through its three subsidiaries: S&T Bank, 9th Street Holdings, Inc and STBA Capital Trust I. S&T operates in three segments: Community Banking, Wealth Management and Insurance. The Company’s community banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans.
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