Published On: Fri, Sep 16th, 2016

S&T Bancorp Inc. (STBA) Raised to Hold at 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 report issued to clients and investors 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 28.38 on Friday. The firm has a market cap of $990.92 million, a P/E ratio of 14.27 and a beta of 1.14. S&T Bancorp has a one year low of $23.06 and a one year high of $34.00. The firm’s 50-day moving average price is $27.36 and its 200 day moving average price is $25.88.

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S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. S&T Bancorp had a return on equity of 8.61% and a net margin of 25.47%. Analysts predict that S&T Bancorp will post $1.96 EPS for the current year.
The company also recently announced 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Tuesday, August 2nd. S&T Bancorp’s payout ratio is 38.19%.
Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of S&T Bancorp by 262.2% in the first quarter. Royal Bank of Canada now owns 19,389 shares of the financial services provider’s stock worth $499,000 after buying an additional 14,036 shares during the last quarter. Arizona State Retirement System raised its position in shares of S&T Bancorp by 4.7% in the first quarter. Arizona State Retirement System now owns 17,921 shares of the financial services provider’s stock worth $462,000 after buying an additional 800 shares during the last quarter. Legal & General Group Plc raised its position in shares of S&T Bancorp by 45.5% in the first quarter. Legal & General Group Plc now owns 8,727 shares of the financial services provider’s stock worth $224,000 after buying an additional 2,727 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 worth $6,806,000 after buying an additional 11,606 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of S&T Bancorp by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 53,225 shares of the financial services provider’s stock worth $1,371,000 after buying an additional 4,748 shares during the last quarter. 50.73% of the stock is currently owned by institutional investors.
S&T Bancorp Company Profile
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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