Boenning Scattergood Analysts Increase Earnings Estimates for S&T Bancorp, Inc. (STBA)
S&T Bancorp, Inc. (NASDAQ:STBA) – Investment analysts at Boenning Scattergood boosted their FY2017 earnings per share estimates for S&T Bancorp in a research note issued on Friday. Boenning Scattergood analyst M. Schultheis now anticipates that the financial services provider will earn $2.38 per share for the year, up from their previous estimate of $2.30. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for S&T Bancorp’s Q4 2017 earnings at $0.64 EPS, Q1 2018 earnings at $0.60 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.64 EPS and FY2019 earnings at $2.60 EPS.
S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $71.01 million during the quarter, compared to analysts’ expectations of $73.70 million. S&T Bancorp had a net margin of 26.44% and a return on equity of 9.41%. During the same quarter in the previous year, the company earned $0.59 earnings per share.
A number of other research firms have also recently commented on STBA. BidaskClub upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research cut shares of S&T Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $41.50 target price on shares of S&T Bancorp in a research note on Friday. Finally, Piper Jaffray Companies restated a “hold” rating and set a $36.50 target price on shares of S&T Bancorp in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.33.
S&T Bancorp (NASDAQ:STBA) opened at 41.05 on Monday. S&T Bancorp has a 52 week low of $28.41 and a 52 week high of $42.30. The company’s 50-day moving average is $38.83 and its 200 day moving average is $36.38. The stock has a market cap of $1.44 billion, a PE ratio of 18.04 and a beta of 0.86.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STBA. Ameritas Investment Partners Inc. bought a new stake in shares of S&T Bancorp during the first quarter valued at approximately $100,000. Burt Wealth Advisors raised its position in shares of S&T Bancorp by 3.1% during the second quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock valued at $115,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of S&T Bancorp by 5.1% during the first quarter. Victory Capital Management Inc. now owns 4,014 shares of the financial services provider’s stock valued at $139,000 after buying an additional 196 shares during the last quarter. KBC Group NV bought a new stake in shares of S&T Bancorp during the second quarter valued at approximately $161,000. Finally, Advisor Group Inc. raised its position in shares of S&T Bancorp by 1.1% during the second quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after buying an additional 53 shares during the last quarter. Institutional investors own 53.82% of the company’s stock.
In other news, Director Robert Edward Kane bought 1,000 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were bought at an average price of $35.10 per share, for a total transaction of $35,100.00. Following the purchase, the director now owns 1,997 shares in the company, valued at $70,094.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas J. Sposito II sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $35.29, for a total transaction of $44,112.50. Following the sale, the insider now owns 25,488 shares in the company, valued at approximately $899,471.52. The disclosure for this sale can be found here. 2.71% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd will be paid a dividend of $0.22 per share. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, November 1st. This represents a $0.88 dividend on an annualized basis and a yield of 2.14%. S&T Bancorp’s dividend payout ratio (DPR) is presently 34.33%.
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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