S&T Bancorp (STBA) Receives a Hold from Raymond James

Raymond James analyst William Wallace reiterated a Hold rating on S&T Bancorp (STBAResearch Report) today. The company’s shares closed last Friday at $29.26.

According to TipRanks.com, Wallace is a 5-star analyst with an average return of 20.3% and a 60.8% success rate. Wallace covers the Financial sector, focusing on stocks such as American National Bankshares, Capstar Financial Holdings, and Dime Community Bancshares.

Currently, the analyst consensus on S&T Bancorp is a Hold with an average price target of $35.00, a 21.8% upside from current levels. In a report issued on July 12, KBW also initiated coverage with a Hold rating on the stock with a $35.00 price target.

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Based on S&T Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $87.9 million and net profit of $31.9 million. In comparison, last year the company earned revenue of $83.16 million and had a net profit of $13.23 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STBA in relation to earlier this year.

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S&T Bancorp, Inc. is a bank holding company, which engages in the provision of financial services and insurance solutions for both business and individual clients. Through S&T Bank and its non-bank subsidiaries, the firm offers traditional banking services, which include accepting time and demand deposits and originating commercial and consumer loans; brokerage services; and trust services including serving as executor and trustee under wills and deeds and as guardian and custodian of employee benefits. It also manages private investment accounts for individuals and institutions through its registered investment advisor. The company was founded on March 17, 1983 and is headquartered in Indiana, PA.