Brokerages Expect S&T Bancorp, Inc. (NASDAQ:STBA) Will Post Quarterly Sales of $84.75 Million

Wall Street analysts predict that S&T Bancorp, Inc. (NASDAQ:STBAGet Rating) will post $84.75 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for S&T Bancorp’s earnings, with estimates ranging from $84.50 million to $85.00 million. S&T Bancorp reported sales of $83.73 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.2%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that S&T Bancorp will report full year sales of $341.30 million for the current financial year, with estimates ranging from $340.60 million to $342.00 million. For the next fiscal year, analysts expect that the business will post sales of $359.00 million, with estimates ranging from $358.00 million to $360.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover S&T Bancorp.

S&T Bancorp (NASDAQ:STBAGet Rating) last announced its earnings results on Thursday, April 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.19. S&T Bancorp had a return on equity of 9.00% and a net margin of 30.99%. The company had revenue of $82.96 million for the quarter, compared to analyst estimates of $82.75 million. During the same period in the prior year, the company posted $0.81 EPS.

Several equities research analysts recently issued reports on STBA shares. StockNews.com started coverage on S&T Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised S&T Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Wednesday, April 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.15.

In other S&T Bancorp news, Director William J. Hieb sold 3,682 shares of the stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $28.25, for a total value of $104,016.50. Following the sale, the director now directly owns 39,033 shares of the company’s stock, valued at $1,102,682.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.45% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp increased its position in S&T Bancorp by 4.1% in the fourth quarter. Northern Trust Corp now owns 434,129 shares of the financial services provider’s stock worth $13,683,000 after buying an additional 17,077 shares during the period. Advisor Partners LLC bought a new position in shares of S&T Bancorp in the fourth quarter worth $202,000. Bank of America Corp DE grew its stake in shares of S&T Bancorp by 30.9% in the fourth quarter. Bank of America Corp DE now owns 98,428 shares of the financial services provider’s stock worth $3,102,000 after purchasing an additional 23,226 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in shares of S&T Bancorp in the fourth quarter worth $94,000. Finally, New York State Teachers Retirement System grew its stake in shares of S&T Bancorp by 6.3% in the fourth quarter. New York State Teachers Retirement System now owns 62,117 shares of the financial services provider’s stock worth $1,958,000 after purchasing an additional 3,700 shares in the last quarter. 61.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of STBA opened at $28.97 on Wednesday. The business’s 50 day moving average is $28.58 and its two-hundred day moving average is $30.37. S&T Bancorp has a 52-week low of $27.02 and a 52-week high of $34.46. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 10.57 and a beta of 0.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.06.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Thursday, May 5th were given a dividend of $0.30 per share. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Wednesday, May 4th. S&T Bancorp’s dividend payout ratio is currently 43.80%.

About S&T Bancorp (Get Rating)

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Business Banking, Commercial Construction, Consumer Real Estate, and Other Consumer.

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