Keefe, Bruyette & Woods Lowers S&T Bancorp (NASDAQ:STBA) Price Target to $43.00

S&T Bancorp (NASDAQ:STBA) had its target price dropped by analysts at Keefe, Bruyette & Woods from $44.00 to $43.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 15.68% from the company’s current price.

S&T Bancorp Stock Up 0.8 %

STBA stock opened at $37.17 on Monday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 10.90 and a beta of 0.75. The company has a 50-day moving average of $36.80 and a two-hundred day moving average of $38.89. S&T Bancorp has a 52-week low of $29.85 and a 52-week high of $45.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99.

S&T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. The firm had revenue of $93.75 million during the quarter, compared to the consensus estimate of $96.40 million. As a group, equities research analysts anticipate that S&T Bancorp will post 3.05 EPS for the current year.

Insider Buying and Selling at S&T Bancorp

In other news, Director Bhaskar Ramachandran acquired 764 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $39.25 per share, with a total value of $29,987.00. Following the acquisition, the director now owns 1,251 shares of the company’s stock, valued at $49,101.75. This trade represents a 156.88 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its stake in shares of S&T Bancorp by 124.4% in the 3rd quarter. Barclays PLC now owns 74,236 shares of the financial services provider’s stock valued at $3,116,000 after buying an additional 41,148 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in S&T Bancorp by 25.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 15,132 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 3,029 shares during the period. Principal Financial Group Inc. boosted its holdings in S&T Bancorp by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 201,695 shares of the financial services provider’s stock valued at $7,709,000 after purchasing an additional 7,027 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of S&T Bancorp by 18.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,690 shares of the financial services provider’s stock valued at $1,065,000 after purchasing an additional 4,374 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of S&T Bancorp by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,493,127 shares of the financial services provider’s stock worth $57,067,000 after buying an additional 60,617 shares in the last quarter. 65.22% of the stock is owned by institutional investors.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.