S&T Bancorp (NASDAQ:STBA – Get Free Report) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
Separately, DA Davidson lifted their price target on S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, July 19th.
View Our Latest Research Report on S&T Bancorp
S&T Bancorp Stock Performance
S&T Bancorp (NASDAQ:STBA – Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. The company had revenue of $142.07 million for the quarter, compared to analysts’ expectations of $95.85 million. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, analysts predict that S&T Bancorp will post 3.31 earnings per share for the current year.
Institutional Investors Weigh In On S&T Bancorp
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its holdings in S&T Bancorp by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in S&T Bancorp by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock worth $1,073,000 after purchasing an additional 432 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in S&T Bancorp by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 498 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of S&T Bancorp by 4.2% in the second quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock valued at $486,000 after buying an additional 584 shares in the last quarter. Finally, Legato Capital Management LLC increased its holdings in shares of S&T Bancorp by 2.2% in the second quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock valued at $1,067,000 after buying an additional 703 shares in the last quarter. Institutional investors own 65.22% of the company’s stock.
About S&T Bancorp
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.
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