Zacks Investment Research upgraded shares of S&T Bancorp Inc. (NASDAQ:STBA) from a sell rating to a hold rating in a report released on Friday 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. “

S&T Bancorp (NASDAQ:STBA) opened at 28.855 on Friday. The firm has a market capitalization of $1.01 billion, a PE ratio of 14.507 and a beta of 1.14. The firm has a 50-day moving average price of $27.74 and a 200 day moving average price of $25.96. S&T Bancorp has a one year low of $23.06 and a one year high of $34.00.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, July 21st. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. S&T Bancorp had a return on equity of 8.61% and a net margin of 25.47%. Analysts anticipate that S&T Bancorp will post $1.96 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. PineBridge Investments L.P. raised its position in 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 in the last quarter. Advisor Group Inc. acquired a new position in S&T Bancorp during the second quarter valued at about $113,000. Teacher Retirement System of Texas raised its position in 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 in the last quarter. Bank of Montreal Can acquired a new position in S&T Bancorp during the second quarter valued at about $121,000. Finally, Tower Research Capital LLC TRC acquired a new position in S&T Bancorp during the second quarter valued at about $143,000. 50.73% of the stock is 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.

5 Day Chart for NASDAQ:STBA

Get a free copy of the Zacks research report on S&T Bancorp (STBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for S&T Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&T Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.