S&T Bancorp (NASDAQ:STBA) Announces Quarterly Earnings Results

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) issued its quarterly earnings data on Thursday. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03, Zacks reports. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. The business had revenue of $100.07 million during the quarter, compared to analyst estimates of $99.30 million.

S&T Bancorp Stock Down 0.7%

STBA opened at $37.67 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. S&T Bancorp has a fifty-two week low of $30.84 and a fifty-two week high of $45.79. The firm's fifty day moving average is $37.77 and its 200 day moving average is $37.62. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 11.05 and a beta of 0.89.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Thursday, May 15th. S&T Bancorp's dividend payout ratio (DPR) is 39.19%.

Wall Street Analysts Forecast Growth

STBA has been the subject of several analyst reports. Hovde Group assumed coverage on shares of S&T Bancorp in a research report on Friday, June 27th. They set a "market perform" rating and a $41.00 price target for the company. Piper Sandler assumed coverage on shares of S&T Bancorp in a research report on Friday, July 18th. They issued a "neutral" rating and a $42.00 target price for the company. Keefe, Bruyette & Woods cut their target price on shares of S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th.

Institutional Trading of S&T Bancorp

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in S&T Bancorp by 10.1% in the 1st quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider's stock worth $487,000 after acquiring an additional 1,206 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of S&T Bancorp by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider's stock worth $843,000 after buying an additional 1,086 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of S&T Bancorp by 54.9% in the first quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider's stock worth $1,339,000 after buying an additional 12,810 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of S&T Bancorp by 7.5% in 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 worth $3,884,000 after buying an additional 7,286 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of S&T Bancorp in the first quarter worth $4,211,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

S&T Bancorp Company Profile

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.

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