Brokerages Expect S & T Bancorp Inc (STBA) Will Announce Quarterly Sales of $73.53 Million

Wall Street brokerages predict that S & T Bancorp Inc (NASDAQ:STBA) will post sales of $73.53 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for S & T Bancorp’s earnings, with the highest sales estimate coming in at $73.96 million and the lowest estimate coming in at $73.10 million. S & T Bancorp posted sales of $66.87 million during the same quarter last year, which would indicate a positive year over year growth rate of 10%. The business is scheduled to announce its next quarterly earnings report on Thursday, April 19th.

According to Zacks, analysts expect that S & T Bancorp will report full-year sales of $73.53 million for the current year, with estimates ranging from $300.00 million to $305.50 million. For the next year, analysts expect that the firm will report sales of $318.25 million per share, with estimates ranging from $315.60 million to $320.90 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover S & T Bancorp.

S & T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. S & T Bancorp had a net margin of 23.08% and a return on equity of 9.88%. The company had revenue of $70.48 million during the quarter, compared to the consensus estimate of $74.58 million.

STBA has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $41.50 price target on shares of S & T Bancorp in a report on Friday, October 20th. Zacks Investment Research upgraded shares of S & T Bancorp from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research report on Saturday, December 23rd. Boenning Scattergood reiterated a “hold” rating on shares of S & T Bancorp in a research report on Friday, October 20th. BidaskClub cut shares of S & T Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $36.50 price objective on shares of S & T Bancorp in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $43.50.

In related news, Director Frank W. Jones sold 850 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $41.32, for a total transaction of $35,122.00. Following the completion of the transaction, the director now directly owns 24,215 shares in the company, valued at approximately $1,000,563.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James C. Miller sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $39.56, for a total transaction of $197,800.00. Following the transaction, the director now owns 44,176 shares of the company’s stock, valued at $1,747,602.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,850 shares of company stock valued at $434,822. 2.71% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in STBA. Advisor Group Inc. increased its position in S & T Bancorp by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 53 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in S & T Bancorp in the 3rd quarter valued at approximately $216,000. Crossmark Global Holdings Inc. acquired a new position in S & T Bancorp in the 3rd quarter valued at approximately $236,000. Susquehanna International Group LLP acquired a new position in S & T Bancorp in the 2nd quarter valued at approximately $248,000. Finally, SG Americas Securities LLC acquired a new position in S & T Bancorp in the 3rd quarter valued at approximately $292,000. Institutional investors and hedge funds own 55.24% of the company’s stock.

Shares of S & T Bancorp (NASDAQ STBA) opened at $40.44 on Friday. S & T Bancorp has a twelve month low of $31.72 and a twelve month high of $43.17. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1,400.00, a P/E ratio of 17.81 and a beta of 0.86.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 8th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Wednesday, February 7th. S & T Bancorp’s dividend payout ratio is 38.77%.

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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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