S&T Bancorp (NASDAQ:STBA) Raised to Hold at Wall Street Zen

S&T Bancorp (NASDAQ:STBA) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Monday, January 26th. Zacks Research lowered S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. DA Davidson began coverage on S&T Bancorp in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, Hovde Group increased their price objective on S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.40.

S&T Bancorp Price Performance

Shares of STBA opened at $39.92 on Friday. The firm’s 50-day simple moving average is $42.09 and its two-hundred day simple moving average is $39.93. S&T Bancorp has a fifty-two week low of $30.84 and a fifty-two week high of $44.91. The stock has a market cap of $1.46 billion, a PE ratio of 11.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The company had revenue of $105.90 million during the quarter, compared to analyst estimates of $103.46 million. Analysts anticipate that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp declared that its board has authorized a stock repurchase plan on Thursday, January 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of S&T Bancorp

A number of hedge funds have recently bought and sold shares of the company. Costello Asset Management INC bought a new position in S&T Bancorp in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its stake in shares of S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 888 shares during the period. Torren Management LLC bought a new position in shares of S&T Bancorp in the 4th quarter worth approximately $37,000. Smithfield Trust Co purchased a new position in shares of S&T Bancorp in the fourth quarter worth approximately $40,000. Finally, Versant Capital Management Inc grew its position in S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after buying an additional 384 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.