Zacks: Brokerages Anticipate S & T Bancorp Inc (NASDAQ:STBA) Will Post Quarterly Sales of $77.83 Million

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Brokerages expect S & T Bancorp Inc (NASDAQ:STBA) to post $77.83 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for S & T Bancorp’s earnings, with estimates ranging from $74.50 million to $81.16 million. S & T Bancorp reported sales of $70.94 million in the same quarter last year, which indicates a positive year over year growth rate of 9.7%. The business is expected to announce its next quarterly earnings results on Thursday, January 30th.

According to Zacks, analysts expect that S & T Bancorp will report full year sales of $297.41 million for the current financial year, with estimates ranging from $294.01 million to $300.81 million. For the next financial year, analysts anticipate that the business will report sales of $345.16 million, with estimates ranging from $341.44 million to $348.88 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover S & T Bancorp.

S & T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.03. The firm had revenue of $74.26 million during the quarter, compared to analysts’ expectations of $73.81 million. S & T Bancorp had a net margin of 28.32% and a return on equity of 10.75%.

A number of research analysts have issued reports on the company. ValuEngine raised S & T Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of S & T Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, BidaskClub raised shares of S & T Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th.

Large investors have recently bought and sold shares of the stock. First Trust Advisors LP raised its position in S & T Bancorp by 12.5% in the 1st quarter. First Trust Advisors LP now owns 86,468 shares of the financial services provider’s stock valued at $3,418,000 after buying an additional 9,587 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in S & T Bancorp during the first quarter worth $115,000. Janney Capital Management LLC bought a new stake in S & T Bancorp during the second quarter worth $208,000. Municipal Employees Retirement System of Michigan lifted its stake in S & T Bancorp by 28.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,200 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 2,940 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in S & T Bancorp by 1.0% in the second quarter. Wedge Capital Management L L P NC now owns 135,548 shares of the financial services provider’s stock valued at $5,080,000 after acquiring an additional 1,403 shares during the last quarter. Institutional investors and hedge funds own 61.97% of the company’s stock.

Shares of STBA traded down $1.16 during trading hours on Friday, reaching $37.14. The stock had a trading volume of 6,047 shares, compared to its average volume of 134,024. The company has a market cap of $1.29 billion, a P/E ratio of 12.31 and a beta of 0.64. S & T Bancorp has a 52 week low of $33.30 and a 52 week high of $42.56. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $37.59 and a 200 day moving average of $36.98.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from S & T Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, November 6th. S & T Bancorp’s payout ratio is 37.21%.

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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