Wall Street analysts forecast that S & T Bancorp Inc (NASDAQ:STBA) will announce sales of $72.99 million for the current quarter, Zacks reports. Four analysts have provided estimates for S & T Bancorp’s earnings. The highest sales estimate is $73.92 million and the lowest is $71.50 million. S & T Bancorp posted sales of $71.01 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.8%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, October 18th.
According to Zacks, analysts expect that S & T Bancorp will report full year sales of $288.75 million for the current financial year, with estimates ranging from $285.70 million to $290.86 million. For the next financial year, analysts expect that the business will post sales of $302.61 million, with estimates ranging from $300.60 million to $307.67 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for S & T Bancorp.
S & T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.61 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.61. The firm had revenue of $70.65 million during 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. BidaskClub upgraded S & T Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. Zacks Investment Research upgraded S & T Bancorp from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, September 19th. Finally, DA Davidson began coverage on S & T Bancorp in a research note on Thursday, August 23rd. They set a “buy” rating and a $54.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $47.13.
STBA stock opened at $39.37 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.66 and a beta of 0.61. S & T Bancorp has a twelve month low of $37.79 and a twelve month high of $47.77.
In other S & T Bancorp news, Director Christina Anne Cassotis bought 1,457 shares of S & T Bancorp stock in a transaction dated Wednesday, August 22nd. The stock was bought at an average cost of $46.49 per share, for a total transaction of $67,735.93. Following the purchase, the director now owns 1,636 shares of the company’s stock, valued at approximately $76,057.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank W. Jones sold 600 shares of S & T Bancorp stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $45.58, for a total value of $27,348.00. Following the transaction, the director now owns 24,387 shares of the company’s stock, valued at $1,111,559.46. The disclosure for this sale can be found here. Insiders own 2.53% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of S & T Bancorp during the 2nd quarter worth approximately $117,000. SG Americas Securities LLC acquired a new stake in S & T Bancorp during the 1st quarter worth approximately $142,000. OppenheimerFunds Inc. acquired a new stake in S & T Bancorp during the 2nd quarter worth approximately $205,000. Hapanowicz & Associates Financial Services Inc acquired a new stake in S & T Bancorp during the 2nd quarter worth approximately $206,000. Finally, Amalgamated Bank acquired a new stake in S & T Bancorp during the 2nd quarter worth approximately $217,000. Institutional investors own 60.40% of the company’s stock.
About S & T Bancorp
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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