S&T Bancorp (NASDAQ:STBA) Downgraded to Sell Rating by Wall Street Zen

S&T Bancorp (NASDAQ:STBA) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other brokerages have also recently issued reports on STBA. DA Davidson started coverage on S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, January 26th. Zacks Research downgraded shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Hovde Group increased their price objective on shares of 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 issued a Hold rating to the company’s stock. According to MarketBeat, S&T Bancorp currently has an average rating of “Hold” and a consensus target price of $44.40.

S&T Bancorp Trading Down 0.4%

Shares of STBA stock opened at $40.20 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 11.49 and a beta of 0.92. S&T Bancorp has a 12-month low of $30.84 and a 12-month high of $44.91. The stock’s 50-day moving average price is $42.09 and its 200-day moving average price is $39.91.

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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in S&T Bancorp by 3.7% during the fourth quarter. State Street Corp now owns 1,723,385 shares of the financial services provider’s stock valued at $67,815,000 after acquiring an additional 61,800 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of S&T Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,624,436 shares of the financial services provider’s stock worth $63,922,000 after acquiring an additional 20,411 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of S&T Bancorp by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 958,685 shares of the financial services provider’s stock worth $37,729,000 after purchasing an additional 3,388 shares during the period. American Century Companies Inc. grew its holdings in S&T Bancorp by 0.5% during the 2nd quarter. American Century Companies Inc. now owns 698,519 shares of the financial services provider’s stock valued at $26,418,000 after purchasing an additional 3,613 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in S&T Bancorp by 33.5% during the 3rd quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock valued at $17,260,000 after purchasing an additional 115,333 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

About S&T Bancorp

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.