S&T Bancorp Inc. (NASDAQ:STBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “S & T BANCORP, INC. is a bank holding company which is engaged in general banking business. The Bank is a full service bank with its main office in Indiana, Pennsylvania, providing service to its customers through a branch of 34 offices located in Armstrong, Allegheny, Indiana, Jefferson, Clearfield and Westmoreland counties. The Bank’s services include accepting time and demand deposit accounts, making secured and unsecured commercial and consumer loans, providing letters of credit, and offering discount brokerage services, personal financial planning and credit card services. “
Shares of S&T Bancorp (NASDAQ:STBA) opened at 28.66 on Friday. The stock’s 50 day moving average is $27.54 and its 200 day moving average is $25.92. S&T Bancorp has a 1-year low of $23.06 and a 1-year high of $34.00. The company has a market capitalization of $1.00 billion, a PE ratio of 14.41 and a beta of 1.14.
S&T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. S&T Bancorp had a net margin of 25.47% and a return on equity of 8.61%. On average, equities research analysts anticipate that S&T Bancorp will post $1.96 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. PineBridge Investments L.P. increased its stake in shares of S&T Bancorp by 4.1% in the second quarter. PineBridge Investments L.P. now owns 4,426 shares of the financial services provider’s stock valued at $108,000 after buying an additional 173 shares during the last quarter. Advisor Group Inc. bought a new stake in shares of S&T Bancorp during the second quarter valued at approximately $113,000. Teacher Retirement System of Texas increased its stake in shares of S&T Bancorp by 20.9% in the second quarter. Teacher Retirement System of Texas now owns 4,912 shares of the financial services provider’s stock valued at $120,000 after buying an additional 849 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of S&T Bancorp during the second quarter valued at approximately $121,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of S&T Bancorp during the second quarter valued at approximately $143,000. 50.73% of the stock is owned by institutional investors and hedge funds.
About S&T Bancorp
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through its three subsidiaries: S&T Bank, 9th Street Holdings, Inc and STBA Capital Trust I. S&T operates in three segments: Community Banking, Wealth Management and Insurance. The Company’s community banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans.
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