Wall Street analysts predict that S&T Bancorp, Inc. (NASDAQ:STBA) will report $73.70 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for S&T Bancorp’s earnings, with estimates ranging from $73.10 million to $74.30 million. S&T Bancorp posted sales of $64.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.6%. The company is expected to announce its next earnings report on Thursday, October 19th.
On average, analysts expect that S&T Bancorp will report full-year sales of $73.70 million for the current year, with estimates ranging from $286.50 million to $292.56 million. For the next financial year, analysts forecast that the company will post sales of $306.46 million per share, with estimates ranging from $302.70 million to $310.21 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for S&T Bancorp.
S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.09. S&T Bancorp had a return on equity of 9.30% and a net margin of 26.52%. The firm had revenue of $72.84 million during the quarter, compared to the consensus estimate of $71.98 million. During the same quarter in the previous year, the company posted $0.49 earnings per share.
Several research firms have recently commented on STBA. BidaskClub cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $38.50 price objective on shares of S&T Bancorp in a report on Thursday. Finally, Zacks Investment Research downgraded S&T Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $37.83.
Shares of S&T Bancorp (NASDAQ:STBA) traded down 1.61% on Friday, reaching $36.68. The company’s stock had a trading volume of 54,379 shares. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 16.09 and a beta of 0.84. The stock has a 50-day moving average price of $36.47 and a 200-day moving average price of $35.74. S&T Bancorp has a 1-year low of $25.06 and a 1-year high of $39.84.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, August 1st. S&T Bancorp’s dividend payout ratio is presently 35.24%.
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In related news, Director Frank W. Jones sold 1,075 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $37.67, for a total value of $40,495.25. Following the transaction, the director now owns 25,065 shares in the company, valued at $944,198.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.31% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in S&T Bancorp by 27.5% in the fourth quarter. AQR Capital Management LLC now owns 28,703 shares of the financial services provider’s stock valued at $1,121,000 after buying an additional 6,196 shares during the period. Norges Bank acquired a new position in shares of S&T Bancorp during the fourth quarter worth about $12,202,000. Teachers Advisors LLC raised its position in shares of S&T Bancorp by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 59,901 shares of the financial services provider’s stock worth $2,339,000 after buying an additional 634 shares during the period. Louisiana State Employees Retirement System raised its position in shares of S&T Bancorp by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the financial services provider’s stock worth $491,000 after buying an additional 200 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of S&T Bancorp by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,850 shares of the financial services provider’s stock worth $133,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.
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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