S & T Bancorp Inc (STBA) Expected to Announce Quarterly Sales of $72.94 Million

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Equities analysts expect S & T Bancorp Inc (NASDAQ:STBA) to post $72.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for S & T Bancorp’s earnings, with the highest sales estimate coming in at $73.92 million and the lowest estimate coming in at $71.50 million. S & T Bancorp reported sales of $71.01 million during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The company is expected to issue its next earnings results on Thursday, October 18th.

According to Zacks, analysts expect that S & T Bancorp will report full year sales of $288.25 million for the current financial year, with estimates ranging from $285.70 million to $290.86 million. For the next financial year, analysts anticipate that the firm will post sales of $302.99 million per share, with estimates ranging from $300.60 million to $307.67 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow S & T Bancorp.

S & T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The firm had revenue of $70.65 million for the quarter, compared to the consensus estimate of $70.06 million. S & T Bancorp had a return on equity of 10.41% and a net margin of 24.39%.

A number of research analysts have weighed in on STBA shares. Boenning Scattergood reissued a “hold” rating on shares of S & T Bancorp in a report on Monday, June 4th. ValuEngine downgraded S & T Bancorp from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Zacks Investment Research raised S & T Bancorp from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, April 25th. Finally, BidaskClub downgraded S & T Bancorp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. S & T Bancorp presently has an average rating of “Hold” and a consensus target price of $44.50.

Shares of S & T Bancorp traded down $0.34, reaching $44.46, during midday trading on Friday, MarketBeat.com reports. 69,220 shares of the company’s stock traded hands, compared to its average volume of 63,421. The company has a market cap of $1.57 billion, a P/E ratio of 18.00 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. S & T Bancorp has a one year low of $33.92 and a one year high of $46.44.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 16th. Shareholders of record on Friday, August 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Thursday, August 2nd. S & T Bancorp’s dividend payout ratio is 40.49%.

In other news, Director Robert Edward Kane bought 1,000 shares of the stock in a transaction on Monday, May 14th. The shares were bought at an average price of $43.92 per share, with a total value of $43,920.00. Following the completion of the acquisition, the director now owns 3,003 shares in the company, valued at $131,891.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in S & T Bancorp in the first quarter valued at about $142,000. Hapanowicz & Associates Financial Services Inc bought a new position in S & T Bancorp in the second quarter valued at about $206,000. Xact Kapitalforvaltning AB bought a new position in S & T Bancorp in the fourth quarter valued at about $208,000. Amalgamated Bank purchased a new stake in S & T Bancorp in the second quarter worth about $217,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in S & T Bancorp in the first quarter worth about $252,000. 58.19% of the stock is currently owned by institutional investors.

S & T Bancorp Company Profile

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 accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.

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Earnings History and Estimates for S & T Bancorp (NASDAQ:STBA)

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