S & T Bancorp (NASDAQ:STBA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of S & T Bancorp (NASDAQ:STBA) from a buy rating to a hold rating in a research report released on Saturday, Zacks.com reports.

According to Zacks, “S & T BANCORP, INC. is a bank holding company which is engaged in general banking business. The Bank is a full service bank with its main office in Indiana, Pennsylvania, providing service to its customers through a branch of 34 offices located in Armstrong, Allegheny, Indiana, Jefferson, Clearfield and Westmoreland counties. The Bank’s services include accepting time and demand deposit accounts, making secured and unsecured commercial and consumer loans, providing letters of credit, and offering discount brokerage services, personal financial planning and credit card services. “

STBA has been the subject of several other research reports. ValuEngine upgraded S & T Bancorp from a sell rating to a hold rating in a research note on Wednesday, October 2nd. BidaskClub cut S & T Bancorp from a buy rating to a hold rating in a research note on Tuesday, January 14th.

NASDAQ STBA traded down $0.16 on Friday, reaching $39.99. The stock had a trading volume of 137,618 shares, compared to its average volume of 197,514. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.99 and a current ratio of 0.99. S & T Bancorp has a 12-month low of $33.30 and a 12-month high of $42.02. The business’s 50-day moving average price is $39.52 and its 200 day moving average price is $37.39. The stock has a market cap of $1.38 billion, a P/E ratio of 13.47 and a beta of 0.66.

S & T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.03. S & T Bancorp had a return on equity of 10.75% and a net margin of 28.32%. The company had revenue of $74.26 million during the quarter, compared to analysts’ expectations of $73.81 million. On average, sell-side analysts predict that S & T Bancorp will post 3 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. McIlrath & Eck LLC acquired a new stake in S & T Bancorp in the third quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in S & T Bancorp by 29.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,449 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 551 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in S & T Bancorp in the first quarter valued at $115,000. Nisa Investment Advisors LLC grew its holdings in S & T Bancorp by 14.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,483 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 683 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in S & T Bancorp in the second quarter valued at $238,000. 62.03% of the stock is currently owned by hedge funds and other institutional investors.

About S & T Bancorp

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.

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