S&T Bancorp (NASDAQ:STBA) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of S&T Bancorp (NASDAQ:STBA) from a hold rating to a sell rating in a research report sent to investors on Saturday.

STBA has been the topic of several other reports. Weiss Ratings restated a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Hovde Group increased their price target on shares of S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Janney Montgomery Scott upgraded shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, January 26th. DA Davidson assumed coverage on shares of S&T Bancorp in a report on Wednesday, February 25th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, S&T Bancorp currently has a consensus rating of “Hold” and an average target price of $44.40.

S&T Bancorp Stock Down 0.1%

STBA opened at $40.17 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. S&T Bancorp has a 12 month low of $30.84 and a 12 month high of $44.91. The stock has a market capitalization of $1.47 billion, a P/E ratio of 11.48 and a beta of 0.92. The business has a 50 day simple moving average of $42.09 and a 200-day simple moving average of $39.92.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The firm had revenue of $105.90 million for the quarter, compared to analyst estimates of $103.46 million. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%. On average, equities analysts anticipate that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were given a $0.36 dividend. The ex-dividend date was Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.6%. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.14%.

S&T Bancorp declared that its board has initiated a stock repurchase program on Thursday, January 22nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On S&T Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in STBA. Costello Asset Management INC purchased a new position in S&T Bancorp during the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of S&T Bancorp by 5,223.5% in the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 888 shares in the last quarter. Torren Management LLC purchased a new stake in shares of S&T Bancorp in the fourth quarter valued at about $37,000. Smithfield Trust Co acquired a new stake in shares of S&T Bancorp in the fourth quarter valued at approximately $40,000. Finally, Versant Capital Management Inc grew its position in shares of S&T Bancorp by 41.6% in the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 384 shares during the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.