S&T Bancorp (NASDAQ:STBA) Releases Earnings Results, Beats Estimates By $0.10 EPS

S&T Bancorp (NASDAQ:STBAGet Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10, FiscalAI reports. The business had revenue of $105.24 million during the quarter, compared to analysts’ expectations of $104.43 million. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%.

S&T Bancorp Price Performance

NASDAQ STBA traded up $0.77 on Thursday, hitting $50.37. 100,610 shares of the company were exchanged, compared to its average volume of 249,231. S&T Bancorp has a 1-year low of $34.01 and a 1-year high of $51.01. The firm has a 50 day moving average of $47.19 and a two-hundred day moving average of $44.08. The company has a market cap of $1.81 billion, a P/E ratio of 14.13 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.37 per share. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, May 14th. This represents a $1.48 annualized dividend and a yield of 2.9%. S&T Bancorp’s dividend payout ratio is currently 41.46%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STBA. Piper Sandler increased their target price on S&T Bancorp from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.60.

Check Out Our Latest Stock Report on S&T Bancorp

Hedge Funds Weigh In On S&T Bancorp

Several hedge funds have recently added to or reduced their stakes in STBA. EverSource Wealth Advisors LLC boosted its stake in shares of S&T Bancorp by 5,223.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 888 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of S&T Bancorp in the third quarter worth about $50,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of S&T Bancorp during the fourth quarter worth $59,000. Raymond James Financial Inc. acquired a new stake in shares of S&T Bancorp in the 2nd quarter valued at about $91,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of S&T Bancorp in the 3rd quarter valued at about $143,000. Institutional investors own 65.22% of the company’s stock.

About S&T Bancorp

(Get Free Report)

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.

Further Reading

Earnings History for S&T Bancorp (NASDAQ:STBA)

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