S&T Bancorp (NASDAQ:STBA) Posts Quarterly Earnings Results, Hits Expectations

by · The Markets Daily

S&T Bancorp (NASDAQ:STBA – Get Free Report) announced its quarterly earnings data on Thursday. The financial services provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89, Zacks reports. The business had revenue of $105.29 million during the quarter, compared to the consensus estimate of $103.46 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.72%.

S&T Bancorp Stock Performance

NASDAQ STBA opened at $41.94 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. S&T Bancorp has a 1-year low of $30.84 and a 1-year high of $42.95. The firm has a market capitalization of $1.60 billion, a P/E ratio of 12.09 and a beta of 0.92. The business’s 50-day simple moving average is $40.18 and its 200-day simple moving average is $38.69.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.44 annualized dividend and a dividend yield of 3.4%. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.34. S&T Bancorp’s dividend payout ratio is presently 41.50%.

Insider Transactions at S&T Bancorp

In other S&T Bancorp news, Director Jeffrey D. Grube purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average price of $36.55 per share, for a total transaction of $91,375.00. Following the completion of the acquisition, the director owned 44,985 shares of the company’s stock, valued at approximately $1,644,201.75. This represents a 5.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On S&T Bancorp

Several large investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its stake in shares of S&T Bancorp by 8.8% during the second quarter. Lazard Asset Management LLC now owns 14,689 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 1,185 shares in the last quarter. Legacy Advisors LLC acquired a new stake in shares of S&T Bancorp in the third quarter valued at about $545,000. Royal Bank of Canada raised its holdings in shares of S&T Bancorp by 10.1% during the 1st quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock valued at $487,000 after buying an additional 1,206 shares during the period. Norges Bank purchased a new stake in shares of S&T Bancorp during the 2nd quarter valued at about $480,000. Finally, BNP Paribas Financial Markets lifted its position in S&T Bancorp by 108.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,408 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 4,897 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on STBA shares. Piper Sandler decreased their price target on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of S&T Bancorp from $41.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $41.00.

View Our Latest Report on S&T Bancorp

S&T Bancorp Company Profile

(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.

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