BidaskClub Downgrades S & T Bancorp (STBA) to Sell

S & T Bancorp (NASDAQ:STBA) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other brokerages have also issued reports on STBA. Boenning Scattergood restated a “hold” rating on shares of S & T Bancorp in a research note on Friday, October 20th. Piper Jaffray Companies restated a “hold” rating and issued a $36.50 target price on shares of S & T Bancorp in a research note on Thursday, October 19th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $41.50 target price on shares of S & T Bancorp in a research note on Friday, October 20th. Finally, Zacks Investment Research upgraded S & T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $41.67.

S & T Bancorp (NASDAQ STBA) traded up $0.21 during trading on Friday, hitting $39.39. The stock had a trading volume of 92,758 shares, compared to its average volume of 96,425. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market cap of $1,371.18, a PE ratio of 16.91 and a beta of 0.86. S & T Bancorp has a 52-week low of $31.72 and a 52-week high of $43.17.

S & T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.05. The firm had revenue of $71.01 million during the quarter, compared to analysts’ expectations of $73.70 million. S & T Bancorp had a return on equity of 9.41% and a net margin of 26.44%. During the same quarter last year, the firm earned $0.59 EPS. equities research analysts forecast that S & T Bancorp will post 2.37 EPS for the current year.

In other S & T Bancorp news, Director Frank W. Jones sold 850 shares of S & T Bancorp stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $41.32, for a total transaction of $35,122.00. Following the completion of the transaction, the director now owns 24,215 shares in the company, valued at approximately $1,000,563.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James C. Miller sold 5,000 shares of S & T Bancorp stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $39.56, for a total value of $197,800.00. Following the transaction, the director now owns 44,176 shares of the company’s stock, valued at approximately $1,747,602.56. The disclosure for this sale can be found here. Insiders sold a total of 12,051 shares of company stock valued at $485,000 in the last 90 days. 2.71% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STBA. Macquarie Group Ltd. raised its stake in shares of S & T Bancorp by 11.0% during the 3rd quarter. Macquarie Group Ltd. now owns 1,164,433 shares of the financial services provider’s stock valued at $46,088,000 after buying an additional 115,210 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of S & T Bancorp by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,662,587 shares of the financial services provider’s stock valued at $59,621,000 after buying an additional 59,351 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of S & T Bancorp during the 2nd quarter valued at about $1,760,000. Ameriprise Financial Inc. raised its stake in shares of S & T Bancorp by 16.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 279,541 shares of the financial services provider’s stock valued at $10,028,000 after buying an additional 40,464 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in shares of S & T Bancorp during the 3rd quarter valued at about $1,413,000. Institutional investors and hedge funds own 55.18% of the company’s stock.

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S & T Bancorp Company Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.

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