S&T Bancorp (NASDAQ:STBA) Posts Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• S&T Bancorp reported $0.83 EPS for the quarter, exceeding the consensus estimate of $0.80, and generated revenue of $100.07 million.
• The company declared a quarterly dividend of $0.34 per share, with an annualized dividend yield of 3.61% and a dividend payout ratio of 39.19%.
• Analysts have mixed views on S&T Bancorp, with price targets ranging from $41.00 to $43.00 following various upgrades and downgrades.

S&T Bancorp (NASDAQ:STBA - Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03, Zacks reports. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. The firm had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million.

S&T Bancorp Trading Down 0.8%

Shares of STBA stock traded down $0.29 during mid-day trading on Wednesday, reaching $37.34. The company's stock had a trading volume of 29,010 shares, compared to its average volume of 158,962. S&T Bancorp has a 12-month low of $30.84 and a 12-month high of $45.70. The firm has a market capitalization of $1.43 billion, a PE ratio of 10.95 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The company's 50 day simple moving average is $37.75 and its 200-day simple moving average is $37.64.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on STBA shares. Wall Street Zen upgraded S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Hovde Group assumed coverage on S&T Bancorp in a report on Friday, June 27th. They issued a "market perform" rating and a $41.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Finally, Piper Sandler started coverage on S&T Bancorp in a report on Friday, July 18th. They set a "neutral" rating and a $42.00 price objective for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of STBA. Royal Bank of Canada boosted its stake in 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 purchasing an additional 1,206 shares during the period. AQR Capital Management LLC raised its holdings in shares of S&T Bancorp by 54.9% in the 1st quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider's stock worth $1,339,000 after purchasing an additional 12,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of S&T Bancorp by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider's stock valued at $843,000 after acquiring an additional 1,086 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of S&T Bancorp by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,837 shares of the financial services provider's stock valued at $3,884,000 after acquiring an additional 7,286 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of S&T Bancorp during the first quarter valued at approximately $4,211,000. 65.22% of the stock is owned by institutional investors and hedge funds.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.