S & T Bancorp (STBA) Lowered to Hold at Zacks Investment Research

S & T Bancorp (NASDAQ:STBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

STBA has been the subject of several other reports. BidaskClub downgraded S & T Bancorp from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $36.50 price target on shares of S & T Bancorp in a report on Thursday, October 19th. Boenning Scattergood reaffirmed a “hold” rating on shares of S & T Bancorp in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $41.50 price target on shares of S & T Bancorp in a report on Friday, October 20th. Five analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $43.50.

Shares of S & T Bancorp (STBA) traded down $0.05 during midday trading on Wednesday, hitting $39.17. The company had a trading volume of 38,200 shares, compared to its average volume of 91,766. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. S & T Bancorp has a 52-week low of $31.72 and a 52-week high of $43.17. The firm has a market capitalization of $1,371.60, a P/E ratio of 18.74 and a beta of 0.85.

S & T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. S & T Bancorp had a return on equity of 9.88% and a net margin of 23.08%. The firm had revenue of $70.48 million during the quarter, compared to the consensus estimate of $74.58 million. research analysts expect that S & T Bancorp will post 2.71 EPS for the current year.

In other S & T Bancorp news, Director James C. Miller sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $39.56, for a total value of $197,800.00. Following the completion of the sale, the director now owns 44,176 shares of the company’s stock, valued at $1,747,602.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.71% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its holdings in S & T Bancorp by 1.1% in the second quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 53 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in S & T Bancorp in the third quarter valued at $216,000. Crossmark Global Holdings Inc. acquired a new stake in S & T Bancorp in the third quarter valued at $236,000. SG Americas Securities LLC acquired a new stake in S & T Bancorp in the third quarter valued at $292,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in S & T Bancorp in the second quarter valued at $271,000. 55.65% of the stock is owned by institutional investors.

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About S & T Bancorp

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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