$73.70 Million in Sales Expected for S&T Bancorp, Inc. (STBA) This Quarter
Equities analysts expect S&T Bancorp, Inc. (NASDAQ:STBA) to post $73.70 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for S&T Bancorp’s earnings, with the lowest sales estimate coming in at $73.10 million and the highest estimate coming in at $74.30 million. S&T Bancorp posted sales of $64.90 million during 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 quarterly earnings results before the market opens on Thursday, October 19th.
According to Zacks, 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 fiscal year, analysts anticipate that the firm will post sales of $306.46 million per share, with estimates ranging from $302.70 million to $310.21 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow S&T Bancorp.
S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $72.84 million for the quarter, compared to analyst estimates of $71.98 million. S&T Bancorp had a return on equity of 9.30% and a net margin of 26.52%. During the same period in the previous year, the firm earned $0.49 EPS.
A number of research firms have issued reports on STBA. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $38.50 target price on shares of S&T Bancorp in a research report on Thursday, August 3rd. BidaskClub raised S&T Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research downgraded S&T Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.67.
Shares of S&T Bancorp (NASDAQ STBA) opened at 41.28 on Wednesday. S&T Bancorp has a 1-year low of $25.85 and a 1-year high of $41.38. The company has a market capitalization of $1.44 billion, a P/E ratio of 18.15 and a beta of 0.86. The company has a 50-day moving average price of $37.59 and a 200 day moving average price of $36.01.
In related news, Director Robert Edward Kane purchased 1,000 shares of S&T Bancorp stock in a transaction dated Monday, August 21st. The stock was bought at an average cost of $35.10 per share, for a total transaction of $35,100.00. Following the completion of the transaction, the director now owns 1,997 shares in the company, valued at $70,094.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank W. Jones sold 1,075 shares of S&T Bancorp stock in a transaction on Monday, July 24th. The shares were sold at an average price of $37.67, for a total value of $40,495.25. Following the completion of the transaction, the director now owns 25,065 shares of the company’s stock, valued at $944,198.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,739 shares of company stock valued at $239,098. 2.71% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in STBA. Russell Investments Group Ltd. grew its position in shares of S&T Bancorp by 311.7% in the first quarter. Russell Investments Group Ltd. now owns 10,617 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 8,038 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of S&T Bancorp by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 490,094 shares of the financial services provider’s stock valued at $16,957,000 after purchasing an additional 28,370 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of S&T Bancorp by 1.5% in the first quarter. BNP Paribas Arbitrage SA now owns 7,422 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 112 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of S&T Bancorp in the first quarter valued at $404,000. Finally, Ameriprise Financial Inc. grew its position in shares of S&T Bancorp by 31.3% in the first quarter. Ameriprise Financial Inc. now owns 239,077 shares of the financial services provider’s stock valued at $8,272,000 after purchasing an additional 57,014 shares in the last quarter. Institutional investors own 53.82% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for S&T Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&T Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.