S & T Bancorp (NASDAQ:STBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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 topic of a number of other research reports. BidaskClub downgraded S & T Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $42.00 price objective on shares of S & T Bancorp in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $43.50.
S & T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $70.48 million for the quarter, compared to the consensus estimate of $74.58 million. equities research analysts expect that S & T Bancorp will post 2.86 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of S & T Bancorp by 48,472.8% in the 1st quarter. BlackRock Inc. now owns 4,308,406 shares of the financial services provider’s stock worth $149,072,000 after buying an additional 4,299,536 shares during the period. Norges Bank purchased a new stake in shares of S & T Bancorp in the 4th quarter worth $12,202,000. BlackRock Fund Advisors lifted its holdings in shares of S & T Bancorp by 8.1% in the 3rd quarter. BlackRock Fund Advisors now owns 2,379,387 shares of the financial services provider’s stock worth $68,978,000 after buying an additional 177,272 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of S & T Bancorp by 104.5% in the 1st quarter. Renaissance Technologies LLC now owns 318,686 shares of the financial services provider’s stock worth $8,209,000 after buying an additional 162,886 shares during the period. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of S & T Bancorp by 51.0% in the 2nd 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 period. 58.76% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: “S & T Bancorp (STBA) Downgraded to “Sell” at Zacks Investment Research” was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/03/14/s-t-bancorp-stba-downgraded-to-sell-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for S & T Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S & T Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.