Zacks: Analysts Expect S & T Bancorp Inc (STBA) Will Post Quarterly Sales of $74.58 Million

Equities research analysts expect that S & T Bancorp Inc (NASDAQ:STBA) will report $74.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for S & T Bancorp’s earnings. The lowest sales estimate is $73.70 million and the highest is $75.45 million. S & T Bancorp posted sales of $65.38 million during the same quarter last year, which suggests a positive year over year growth rate of 14.1%. The company is expected to announce its next earnings report before the market opens on Thursday, January 25th.

According to Zacks, analysts expect that S & T Bancorp will report full year sales of $74.58 million for the current fiscal year, with estimates ranging from $286.00 million to $291.70 million. For the next year, analysts forecast that the company will post sales of $302.75 million per share, with estimates ranging from $300.00 million to $305.50 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover S & T Bancorp.

S & T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.05. S & T Bancorp had a net margin of 26.44% and a return on equity of 9.41%. The company had revenue of $71.01 million for the quarter, compared to analyst estimates of $73.70 million. During the same quarter in the prior year, the business posted $0.59 EPS.

A number of research analysts recently issued reports on the stock. Boenning Scattergood reiterated 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 price target on shares of S & T Bancorp in a report on Thursday, October 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $41.50 price target on shares of S & T Bancorp in a report on Friday, October 20th. Zacks Investment Research raised shares of S & T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Tuesday, October 24th. Finally, BidaskClub downgraded shares of S & T Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. S & T Bancorp currently has an average rating of “Hold” and a consensus price target of $43.50.

S & T Bancorp (STBA) opened at $40.99 on Thursday. S & T Bancorp has a 12 month low of $31.72 and a 12 month high of $43.17. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1,440.00, a price-to-earnings ratio of 17.67 and a beta of 0.86.

In related news, Director James C. Miller sold 5,000 shares of S & T Bancorp stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $39.56, for a total transaction 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 approximately $1,747,602.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank W. Jones sold 850 shares of S & T Bancorp stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $41.32, for a total transaction of $35,122.00. Following the transaction, the director now directly owns 24,215 shares of the company’s stock, valued at $1,000,563.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,051 shares of company stock valued at $485,000 over the last ninety days. 2.71% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of STBA. Macquarie Group Ltd. increased its position in S & T Bancorp by 11.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,164,433 shares of the financial services provider’s stock valued at $46,088,000 after acquiring an additional 115,210 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of S & T Bancorp by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,662,587 shares of the financial services provider’s stock worth $59,621,000 after buying an additional 59,351 shares during the period. Mutual of America Capital Management LLC acquired a new position in S & T Bancorp during the second quarter valued at approximately $1,760,000. Ameriprise Financial Inc. grew its holdings in S & T Bancorp by 16.9% during the second quarter. Ameriprise Financial Inc. now owns 279,541 shares of the financial services provider’s stock valued at $10,028,000 after purchasing an additional 40,464 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in S & T Bancorp during the third quarter valued at approximately $1,413,000. Hedge funds and other institutional investors own 55.18% of the company’s stock.

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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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