S & T Bancorp (STBA) Rating Increased to Strong-Buy at Zacks Investment Research

S & T Bancorp (NASDAQ:STBA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Saturday. The firm currently has a $47.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 16.54% from the stock’s previous close.

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. “

A number of other research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $41.50 target price on shares of S & T Bancorp in a research note on Friday, October 20th. Boenning Scattergood reissued a “hold” rating on shares of S & T Bancorp in a research note on Friday, October 20th. Piper Jaffray Companies reissued a “hold” rating and issued a $36.50 target price on shares of S & T Bancorp in a research note on Thursday, October 19th. Finally, BidaskClub cut S & T Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.67.

Shares of S & T Bancorp (NASDAQ STBA) opened at $40.33 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.95 and a current ratio of 0.96. S & T Bancorp has a 52 week low of $31.72 and a 52 week high of $43.17. The company has a market capitalization of $1,410.00, a price-to-earnings ratio of 17.38 and a beta of 0.86.

S & T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. S & T Bancorp had a return on equity of 9.41% and a net margin of 26.44%. The firm had revenue of $71.01 million during the quarter, compared to analysts’ expectations of $73.70 million. During the same period in the previous year, the firm earned $0.59 earnings per share. analysts anticipate that S & T Bancorp will post 2.37 EPS for the current year.

In other S & T Bancorp news, Director James C. Miller sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $39.56, for a total value of $197,800.00. Following the completion of the transaction, the director now directly owns 44,176 shares of the company’s stock, valued at $1,747,602.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Krieger sold 1,201 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $41.78, for a total value of $50,177.78. Following the completion of the transaction, the director now directly owns 18,045 shares of the company’s stock, valued at $753,920.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,051 shares of company stock valued at $485,000. Insiders own 2.71% of the company’s stock.

Several hedge funds have recently bought and sold shares of STBA. KBC Group NV acquired a new position in shares of S & T Bancorp during the second quarter worth about $161,000. Victory Capital Management Inc. boosted its position in shares of S & T Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,722 shares of the financial services provider’s stock worth $169,000 after buying an additional 708 shares during the period. Advisor Group Inc. boosted its position in shares of S & T Bancorp by 1.1% during the second quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock worth $175,000 after buying an additional 53 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of S & T Bancorp during the third quarter worth about $216,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of S & T Bancorp during the third quarter worth about $236,000. 55.18% of the stock is owned by institutional investors.

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S & T Bancorp Company Profile

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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