S&T Bancorp (NASDAQ:STBA) Downgraded by StockNews.com to "Sell"

StockNews.com cut shares of S&T Bancorp (NASDAQ:STBA - Free Report) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Separately, DA Davidson increased their price target on S&T Bancorp from $32.00 to $41.00 and gave the stock a neutral rating in a report on Friday, July 19th.

S&T Bancorp Stock Performance

NASDAQ:STBA traded up $0.67 during trading hours on Tuesday, reaching $41.87. 182,996 shares of the company's stock were exchanged, compared to its average volume of 162,071. S&T Bancorp has a 1-year low of $24.51 and a 1-year high of $45.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.86 and a beta of 0.79. The company has a 50-day moving average of $41.27 and a 200 day moving average of $36.23.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.14. The business had revenue of $142.07 million during the quarter, compared to the consensus estimate of $95.85 million. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Research analysts anticipate that S&T Bancorp will post 3.3 EPS for the current year.

S&T Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.15%. S&T Bancorp's payout ratio is currently 37.39%.

Hedge Funds Weigh In On S&T Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in STBA. Earnest Partners LLC increased its holdings in shares of S&T Bancorp by 569.7% in the 1st quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider's stock valued at $7,704,000 after purchasing an additional 204,281 shares in the last quarter. American Century Companies Inc. lifted its position in shares of S&T Bancorp by 29.0% during the 2nd quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider's stock valued at $19,761,000 after acquiring an additional 133,108 shares during the period. SpiderRock Advisors LLC purchased a new stake in shares of S&T Bancorp during the 1st quarter worth approximately $2,234,000. Vanguard Group Inc. grew its holdings in shares of S&T Bancorp by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider's stock worth $154,291,000 after acquiring an additional 52,075 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in S&T Bancorp by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider's stock valued at $80,064,000 after purchasing an additional 32,935 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company's stock.

S&T Bancorp Company Profile

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.