S & T Bancorp Inc (STBA) Given Average Recommendation of “Hold” by Brokerages
S & T Bancorp Inc (NASDAQ:STBA) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $44.50.
Several research firms recently issued reports on STBA. Boenning Scattergood reiterated a “hold” rating on shares of S & T Bancorp in a report on Monday, June 4th. BidaskClub cut S & T Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research raised S & T Bancorp from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, August 7th. Finally, ValuEngine raised S & T Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd.
Shares of STBA stock traded down $0.34 on Friday, hitting $44.46. The stock had a trading volume of 69,220 shares, compared to its average volume of 63,421. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.57 billion, a PE ratio of 18.00 and a beta of 0.67. S & T Bancorp has a 1 year low of $33.92 and a 1 year high of $46.44.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 16th. Investors of record on Friday, August 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 2nd. This represents a $1.00 annualized dividend and a yield of 2.25%. S & T Bancorp’s payout ratio is 40.49%.
In related news, Director Robert Edward Kane bought 1,000 shares of the stock in a transaction that occurred on Monday, May 14th. The stock was purchased at an average cost of $43.92 per share, with a total value of $43,920.00. Following the purchase, the director now directly owns 3,003 shares of the company’s stock, valued at approximately $131,891.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.71% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in STBA. BlackRock Inc. grew its stake in S & T Bancorp by 6.5% during the 2nd quarter. BlackRock Inc. now owns 4,843,292 shares of the financial services provider’s stock worth $209,423,000 after purchasing an additional 297,656 shares in the last quarter. Waldron LP grew its stake in S & T Bancorp by 536.2% during the 1st quarter. Waldron LP now owns 137,313 shares of the financial services provider’s stock worth $5,484,000 after purchasing an additional 115,728 shares in the last quarter. Maltese Capital Management LLC grew its stake in S & T Bancorp by 67.1% during the 1st quarter. Maltese Capital Management LLC now owns 237,900 shares of the financial services provider’s stock worth $9,502,000 after purchasing an additional 95,563 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in S & T Bancorp by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,844,526 shares of the financial services provider’s stock worth $73,670,000 after purchasing an additional 64,222 shares in the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new position in S & T Bancorp during the 2nd quarter worth $1,431,000. 58.19% of the stock is owned by hedge funds and other institutional investors.
About S & T Bancorp
S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.
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