Equities research analysts expect S & T Bancorp Inc (NASDAQ:STBA) to report sales of $72.99 million for the current quarter, Zacks reports. Four analysts have made estimates for S & T Bancorp’s earnings, with estimates ranging from $71.50 million to $73.92 million. S & T Bancorp reported sales of $71.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, October 18th.
On average, analysts expect that S & T Bancorp will report full year sales of $288.75 million for the current fiscal year, with estimates ranging from $285.70 million to $290.86 million. For the next financial year, analysts expect that the business will report sales of $302.61 million, with estimates ranging from $300.60 million to $307.67 million. Zacks’ sales averages are an average based on a survey of research analysts that follow S & T Bancorp.
S & T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. The business had revenue of $70.65 million during the quarter, compared to the consensus estimate of $70.06 million. S & T Bancorp had a net margin of 24.39% and a return on equity of 10.41%.
Several equities analysts have weighed in on STBA shares. BidaskClub downgraded shares of S & T Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of S & T Bancorp from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, August 7th. Finally, DA Davidson started coverage on shares of S & T Bancorp in a report on Thursday, August 23rd. They set a “buy” rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.13.
In other news, Director Christina Anne Cassotis purchased 1,457 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were bought at an average cost of $46.49 per share, with a total value of $67,735.93. Following the purchase, the director now directly owns 1,636 shares of the company’s stock, valued at $76,057.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James C. Miller sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $46.44, for a total transaction of $232,200.00. Following the sale, the director now directly owns 39,948 shares in the company, valued at $1,855,185.12. The disclosure for this sale can be found here. Company insiders own 2.53% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its stake in shares of S & T Bancorp by 0.9% during the 2nd quarter. Northern Trust Corp now owns 948,156 shares of the financial services provider’s stock worth $40,999,000 after purchasing an additional 8,222 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of S & T Bancorp by 8.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 24,369 shares of the financial services provider’s stock worth $1,054,000 after purchasing an additional 1,940 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of S & T Bancorp by 143.5% during the 2nd quarter. California Public Employees Retirement System now owns 79,449 shares of the financial services provider’s stock worth $3,435,000 after purchasing an additional 46,820 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of S & T Bancorp during the 2nd quarter worth about $231,000. Finally, Bank of America Corp DE boosted its stake in shares of S & T Bancorp by 45.7% during the 2nd quarter. Bank of America Corp DE now owns 46,340 shares of the financial services provider’s stock worth $2,004,000 after purchasing an additional 14,544 shares during the last quarter. 60.40% of the stock is currently owned by institutional investors.
Shares of STBA 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 stock has a market capitalization of $1.52 billion, a PE ratio of 16.66 and a beta of 0.61. S & T Bancorp has a 52-week low of $37.79 and a 52-week high of $47.77.
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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