S&T Bancorp Inc. (STBA) Downgraded by Zacks Investment Research
S&T Bancorp Inc. (NASDAQ:STBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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. “
S&T Bancorp (NASDAQ:STBA) traded down 0.52% on Tuesday, hitting $28.55. 69,822 shares of the stock were exchanged. S&T Bancorp has a 52 week low of $23.06 and a 52 week high of $34.00. The company has a market cap of $996.85 million, a PE ratio of 14.35 and a beta of 1.07. The company’s 50-day moving average is $28.55 and its 200-day moving average is $26.21.
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S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, July 21st. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. S&T Bancorp had a return on equity of 8.61% and a net margin of 25.47%. On average, analysts predict that S&T Bancorp will post $1.96 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in S&T Bancorp by 2.8% in the second quarter. Macquarie Group Ltd. now owns 1,105,702 shares of the financial services provider’s stock worth $27,034,000 after buying an additional 30,370 shares during the last quarter. Mason Street Advisors LLC purchased a new position in S&T Bancorp during the second quarter worth about $167,000. Schwab Charles Investment Management Inc. raised its position in S&T Bancorp by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 119,394 shares of the financial services provider’s stock worth $2,920,000 after buying an additional 1,950 shares during the last quarter. Wedge Capital Management L L P NC raised its position in S&T Bancorp by 51.0% in the second quarter. Wedge Capital Management L L P NC now owns 448,661 shares of the financial services provider’s stock worth $10,970,000 after buying an additional 151,535 shares during the last quarter. Finally, Arizona State Retirement System raised its position in S&T Bancorp by 1.1% in the second quarter. Arizona State Retirement System now owns 18,121 shares of the financial services provider’s stock worth $443,000 after buying an additional 200 shares during the last quarter. 50.73% of the stock is currently owned by hedge funds and other institutional investors.
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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