Wall Street Zen Downgrades S&T Bancorp (NASDAQ:STBA) to Sell

S&T Bancorp (NASDAQ:STBA) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other brokerages also recently issued reports on STBA. Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday, January 26th. Hovde Group raised their target price on S&T Bancorp from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Zacks Research cut S&T Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Finally, DA Davidson initiated coverage on S&T Bancorp in a report on Wednesday, February 25th. They issued a “neutral” rating and a $47.00 price target for the company. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.40.

S&T Bancorp Stock Performance

NASDAQ STBA opened at $40.20 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 11.49 and a beta of 0.92. The company has a 50 day moving average of $42.09 and a 200-day moving average of $39.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp has a 1-year low of $30.84 and a 1-year high of $44.91.

S&T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $105.90 million for the quarter, compared to the consensus estimate of $103.46 million. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%. On average, equities analysts forecast that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, January 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of S&T Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STBA. Royal Bank of Canada lifted its position in S&T Bancorp by 10.1% during the 1st quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock valued at $487,000 after purchasing an additional 1,206 shares during the period. AQR Capital Management LLC grew its position in shares of S&T Bancorp by 54.9% during the 1st quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider’s stock worth $1,339,000 after buying an additional 12,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of S&T Bancorp by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider’s stock worth $843,000 after buying an additional 1,086 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of S&T Bancorp by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,837 shares of the financial services provider’s stock worth $3,884,000 after buying an additional 7,286 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of S&T Bancorp during the first quarter worth approximately $4,211,000. 65.22% of the stock is currently owned by institutional investors and hedge funds.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.