Published On: Tue, Sep 6th, 2016

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

S&T Bancorp Inc. (NASDAQ:STBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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. “
S&T Bancorp (NASDAQ:STBA) opened at 28.87 on Tuesday. The company has a market capitalization of $1.01 billion and a P/E ratio of 14.51. S&T Bancorp has a 12 month low of $23.06 and a 12 month high of $34.00. The firm has a 50-day moving average price of $26.56 and a 200 day moving average price of $25.69.

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S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Analysts expect that S&T Bancorp will post $1.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, August 2nd. This represents a $0.76 annualized dividend and a dividend yield of 2.63%.
Other hedge funds and institutional investors have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its position in S&T Bancorp by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 920,117 shares of the financial services provider’s stock valued at $23,702,000 after buying an additional 15,517 shares in the last quarter. State Street Corp boosted its position in S&T Bancorp by 3.7% in the first quarter. State Street Corp now owns 682,614 shares of the financial services provider’s stock valued at $17,585,000 after buying an additional 24,094 shares in the last quarter. Perkins Investment Management LLC boosted its position in S&T Bancorp by 0.4% in the fourth quarter. Perkins Investment Management LLC now owns 451,585 shares of the financial services provider’s stock valued at $13,918,000 after buying an additional 1,955 shares in the last quarter. Renaissance Technologies LLC boosted its position in S&T Bancorp by 104.5% in the first quarter. Renaissance Technologies LLC now owns 318,686 shares of the financial services provider’s stock valued at $8,209,000 after buying an additional 162,886 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in S&T Bancorp by 4.6% in the first quarter. Geode Capital Management LLC now owns 264,215 shares of the financial services provider’s stock valued at $6,806,000 after buying an additional 11,606 shares in the last quarter.
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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