S&T Bancorp (NASDAQ:STBA) Upgraded by Wall Street Zen to “Hold” Rating

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

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

S&T Bancorp Trading Down 0.5%

NASDAQ:STBA opened at $39.92 on Friday. The firm’s 50 day moving average is $42.09 and its 200 day moving average is $39.93. S&T Bancorp has a 12 month low of $30.84 and a 12 month high of $44.91. 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 $1.46 billion, a PE ratio of 11.41 and a beta of 0.92.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. The business had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $103.46 million. Sell-side analysts expect that S&T Bancorp will post 3.05 earnings per share for the current year.

S&T Bancorp declared that its board has authorized a share repurchase program 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 buy up to 6.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in STBA. Costello Asset Management INC purchased a new stake in S&T Bancorp in the fourth quarter worth $26,000. 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 valued at $34,000 after buying an additional 888 shares during the period. Torren Management LLC purchased a new position in S&T Bancorp during the fourth quarter valued at $37,000. Smithfield Trust Co bought a new stake in shares of S&T Bancorp during the 4th quarter valued at $40,000. Finally, Versant Capital Management Inc boosted its holdings in shares of S&T Bancorp by 41.6% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

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.