BidaskClub upgraded shares of S&T Bancorp, Inc. (NASDAQ:STBA) from a sell rating to a hold rating in a research report sent to investors on Friday, June 30th.
Separately, Zacks Investment Research raised shares of S&T Bancorp from a sell rating to a hold rating in a research note on Wednesday, March 15th.
S&T Bancorp (NASDAQ:STBA) traded up 0.13% during mid-day trading on Friday, hitting $37.52. The stock had a trading volume of 45,495 shares. The company has a market cap of $1.31 billion, a P/E ratio of 16.51 and a beta of 0.83. S&T Bancorp has a 1-year low of $24.83 and a 1-year high of $39.84. The company has a 50-day moving average price of $36.42 and a 200 day moving average price of $35.77.
S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.09. S&T Bancorp had a net margin of 26.52% and a return on equity of 9.30%. The business had revenue of $72.84 million during the quarter, compared to analysts’ expectations of $71.98 million. During the same quarter in the previous year, the company earned $0.49 EPS. Equities research analysts forecast that S&T Bancorp will post $2.30 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.13%. S&T Bancorp’s dividend payout ratio (DPR) is 35.24%.
In other news, Director Frank W. Jones sold 1,075 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $37.67, for a total value of $40,495.25. Following the completion of the sale, the director now owns 25,065 shares of the company’s stock, valued at approximately $944,198.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.31% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Comerica Bank boosted its stake in shares of S&T Bancorp by 78.1% in the fourth quarter. Comerica Bank now owns 87,039 shares of the financial services provider’s stock worth $3,293,000 after buying an additional 38,165 shares during the period. State Street Corp raised its stake in S&T Bancorp by 10.2% in the fourth quarter. State Street Corp now owns 771,594 shares of the financial services provider’s stock worth $30,128,000 after buying an additional 71,497 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in S&T Bancorp during the fourth quarter worth approximately $219,000. Dimensional Fund Advisors LP raised its stake in S&T Bancorp by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,522,617 shares of the financial services provider’s stock worth $59,444,000 after buying an additional 115,394 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in S&T Bancorp by 3.3% in the fourth quarter. Public Sector Pension Investment Board now owns 24,805 shares of the financial services provider’s stock worth $968,000 after buying an additional 800 shares in the last quarter. 54.18% of the stock is owned by institutional investors.
About S&T Bancorp
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.
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