S&T Bancorp (NASDAQ:STBA) Rating Lowered to Sell at Wall Street Zen

by · The Cerbat Gem

S&T Bancorp (NASDAQ:STBA – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Other research analysts have also issued research reports about the company. Piper Sandler boosted their price target on S&T Bancorp from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of S&T Bancorp in a report on Friday, July 24th. Hovde Group restated a “market perform” rating and set a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a research note on Monday, July 27th. DA Davidson upped their price objective on shares of S&T Bancorp from $47.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of S&T Bancorp from $49.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, S&T Bancorp presently has a consensus rating of “Hold” and a consensus price target of $51.60.

Get Our Latest Analysis on S&T Bancorp

S&T Bancorp Price Performance

Shares of NASDAQ:STBA opened at $49.64 on Friday. The firm’s 50 day moving average is $50.48 and its two-hundred day moving average is $47.20. The firm has a market capitalization of $1.75 billion, a P/E ratio of 13.20 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. S&T Bancorp has a 52 week low of $34.38 and a 52 week high of $53.50.

S&T Bancorp (NASDAQ:STBA – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%.The business had revenue of $105.24 million during the quarter, compared to the consensus estimate of $104.43 million. Analysts anticipate that S&T Bancorp will post 3.95 earnings per share for the current year.

S&T Bancorp declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 23rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director William Hieb sold 11,979 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $51.34, for a total transaction of $615,001.86. Following the completion of the sale, the director directly owned 17,344 shares in the company, valued at approximately $890,440.96. This trade represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in S&T Bancorp in the 2nd quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of S&T Bancorp during the 2nd quarter valued at $37,000. Strs Ohio purchased a new position in shares of S&T Bancorp during the 1st quarter valued at $54,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of S&T Bancorp in the second quarter worth $74,000. Finally, GAMMA Investing LLC increased its stake in shares of S&T Bancorp by 16.4% in the second quarter. GAMMA Investing LLC now owns 2,018 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 285 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Company Profile

(Get Free Report)

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania. Its principal subsidiary, S&T Bank, provides banking and financial services to consumers, businesses and institutions.

S&T Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury and cash-management services, online and mobile banking, and mortgage services. Through its wealth-management and trust operations, the bank also provides investment management, financial planning, fiduciary and estate-related services.

Founded in 1902, S&T Bancorp serves customers through a network of offices and digital banking channels in western and central Pennsylvania and eastern Ohio.

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