S&T Bancorp’s (STBA) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their hold rating on shares of S&T Bancorp, Inc. (NASDAQ:STBA) in a research note published on Tuesday. They currently have a $38.00 price target on the financial services provider’s stock.

A number of other brokerages also recently issued reports on STBA. BidaskClub raised S&T Bancorp from a sell rating to a hold rating in a research report on Saturday, June 10th. Zacks Investment Research cut shares of S&T Bancorp from a buy rating to a hold rating in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. S&T Bancorp has a consensus rating of Hold and an average target price of $37.67.

Shares of S&T Bancorp (NASDAQ STBA) traded up 0.160% during trading on Tuesday, reaching $40.755. 23,923 shares of the company’s stock were exchanged. The company has a 50 day moving average of $36.83 and a 200 day moving average of $35.78. The stock has a market cap of $1.43 billion, a P/E ratio of 17.914 and a beta of 0.86. S&T Bancorp has a 12-month low of $25.85 and a 12-month high of $41.00.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.09. S&T Bancorp had a return on equity of 9.30% and a net margin of 26.52%. The business had revenue of $72.84 million for the quarter, compared to analyst estimates of $71.98 million. During the same quarter in the prior year, the company posted $0.49 EPS. Equities research analysts anticipate that S&T Bancorp will post $2.30 EPS for the current year.

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In other news, insider Thomas J. Sposito II sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $35.29, for a total transaction of $44,112.50. Following the completion of the transaction, the insider now directly owns 25,488 shares in the company, valued at $899,471.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank W. Jones sold 1,075 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $37.67, for a total value of $40,495.25. Following the transaction, the director now owns 25,065 shares of the company’s stock, valued at $944,198.55. The disclosure for this sale can be found here. In the last three months, insiders sold 6,739 shares of company stock worth $239,098. 2.71% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of STBA. Advisor Group Inc. raised its holdings in shares of S&T Bancorp by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after buying an additional 53 shares during the period. Burt Wealth Advisors lifted its stake in S&T Bancorp by 3.1% during the 2nd quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 100 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in S&T Bancorp by 1.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,422 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 112 shares during the period. OxFORD Asset Management LLP boosted its holdings in S&T Bancorp by 2.5% during the 2nd quarter. OxFORD Asset Management LLP now owns 7,657 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 184 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in S&T Bancorp by 5.1% during the 1st quarter. Victory Capital Management Inc. now owns 4,014 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 196 shares during the period. 53.82% of the stock is owned by institutional investors and hedge funds.

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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