S&T Bancorp (NASDAQ:STBA) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of S&T Bancorp (NASDAQ:STBA) from a hold (c+) rating to a buy (b-) rating in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other analysts also recently issued reports on STBA. Keefe, Bruyette & Woods upped their price objective on S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday. Hovde Group began coverage on S&T Bancorp in a research report on Friday, June 27th. They issued a “market perform” rating and a $41.00 price objective on the stock. Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Piper Sandler began coverage on S&T Bancorp in a research report on Friday, July 18th. They issued a “neutral” rating and a $42.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, S&T Bancorp has a consensus rating of “Hold” and a consensus price target of $41.00.

S&T Bancorp Stock Up 0.9%

S&T Bancorp stock opened at $36.78 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 10.60 and a beta of 0.94. S&T Bancorp has a fifty-two week low of $30.84 and a fifty-two week high of $45.46. The stock’s fifty day moving average is $37.91 and its two-hundred day moving average is $37.46.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $107.69 million for the quarter, compared to analyst estimates of $102.95 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.72%. Analysts predict that S&T Bancorp will post 3.05 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.36 annualized dividend and a yield of 3.7%. S&T Bancorp’s dividend payout ratio is 39.19%.

Hedge Funds Weigh In On S&T Bancorp

Several large investors have recently added to or reduced their stakes in STBA. EverSource Wealth Advisors LLC lifted its position in S&T Bancorp by 5,223.5% during the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock worth $34,000 after buying an additional 888 shares during the period. Versant Capital Management Inc increased its stake 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 worth $49,000 after acquiring an additional 384 shares during the last quarter. GAMMA Investing LLC increased its stake in S&T Bancorp by 26.4% during the third quarter. GAMMA Investing LLC now owns 1,513 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 316 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in S&T Bancorp during the second quarter worth about $91,000. Finally, Legend Financial Advisors Inc. acquired a new stake in S&T Bancorp during the second quarter worth about $128,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Company Profile

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.