S&T Bancorp (NASDAQ:STBA) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of S&T Bancorp (NASDAQ:STBA) from a sell rating to a hold rating in a research report report published on Monday morning.

S&T Bancorp Trading Up 4.6 %

Shares of S&T Bancorp stock opened at $31.76 on Monday. S&T Bancorp has a fifty-two week low of $24.51 and a fifty-two week high of $36.28. The stock has a 50 day moving average of $31.87 and a 200 day moving average of $30.02. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.49 and a beta of 0.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.10. S&T Bancorp had a return on equity of 11.70% and a net margin of 27.03%. The business had revenue of $103.17 million for the quarter, compared to analysts’ expectations of $100.10 million. As a group, research analysts predict that S&T Bancorp will post 3.01 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Wednesday, February 7th. S&T Bancorp’s dividend payout ratio is presently 35.29%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STBA. Lazard Asset Management LLC purchased a new stake in shares of S&T Bancorp during the 4th quarter valued at $29,000. TFO Wealth Partners LLC boosted its position in S&T Bancorp by 5,870.6% in the 4th quarter. TFO Wealth Partners LLC now owns 1,015 shares of the financial services provider’s stock valued at $34,000 after buying an additional 998 shares during the last quarter. Point72 Middle East FZE acquired a new stake in shares of S&T Bancorp in the 4th quarter valued at about $39,000. Tower Research Capital LLC TRC raised its stake in shares of S&T Bancorp by 122.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,907 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in S&T Bancorp during the third quarter worth about $55,000. 65.22% of the stock is currently owned by institutional investors and hedge funds.

About S&T Bancorp

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.