S & T Bancorp Inc (STBA) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of S & T Bancorp Inc (NASDAQ:STBA) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

A number of other equities research analysts also recently commented on STBA. Piper Jaffray Companies downgraded shares of S & T Bancorp from an overweight rating to a neutral rating and set a $32.00 price objective for the company. in a research report on Wednesday, November 16th. Boenning Scattergood downgraded shares of S & T Bancorp from an outperform rating to a neutral rating in a research report on Thursday, November 17th.

S & T Bancorp (NASDAQ:STBA) opened at 35.38 on Wednesday. The stock’s 50 day moving average price is $36.46 and its 200 day moving average price is $33.94. S & T Bancorp has a one year low of $23.06 and a one year high of $39.84. The firm has a market capitalization of $1.24 billion, a PE ratio of 17.24 and a beta of 0.95.

S & T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, January 26th. The financial services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by $0.03. S & T Bancorp had a return on equity of 8.61% and a net margin of 25.28%. During the same quarter last year, the company posted $0.50 EPS. Analysts expect that S & T Bancorp will post $2.24 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Investors of record on Thursday, February 9th were given a $0.20 dividend. The ex-dividend date was Tuesday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. S & T Bancorp’s payout ratio is currently 39.02%.

In related news, insider Thomas J. Sposito II sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $36.25, for a total value of $362,500.00. Following the completion of the sale, the insider now owns 31,685 shares in the company, valued at $1,148,581.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.31% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Macquarie Group Ltd. boosted its position in shares of S & T Bancorp by 2.8% in the second quarter. Macquarie Group Ltd. now owns 1,105,702 shares of the financial services provider’s stock worth $27,034,000 after buying an additional 30,370 shares during the period. Capstone Asset Management Co. boosted its position in shares of S & T Bancorp by 2.8% in the third quarter. Capstone Asset Management Co. now owns 9,115 shares of the financial services provider’s stock worth $264,000 after buying an additional 250 shares during the period. California Public Employees Retirement System boosted its position in shares of S & T Bancorp by 18.4% in the third quarter. California Public Employees Retirement System now owns 28,300 shares of the financial services provider’s stock worth $820,000 after buying an additional 4,400 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of S & T Bancorp by 1.2% in the third quarter. Great West Life Assurance Co. Can now owns 48,864 shares of the financial services provider’s stock worth $1,413,000 after buying an additional 601 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of S & T Bancorp by 3,109.5% in the third quarter. Advisors Asset Management Inc. now owns 3,723 shares of the financial services provider’s stock worth $108,000 after buying an additional 3,607 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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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