S&T Bancorp (NASDAQ:STBA) Issues Earnings Results

Key Points

• S&T Bancorp beat earnings expectations, reporting $1.02 in EPS versus the $0.92 consensus estimate. Revenue also came in slightly ahead of forecasts at $105.24 million.
• The company raised its quarterly dividend to $0.37 per share from $0.36, bringing the annualized payout to $1.48 and the dividend yield to 2.9%.
• Analyst sentiment remains cautious overall, with a consensus rating of “Hold” and an average price target of $46.60, even after Piper Sandler lifted its target to $51.00.

S&T Bancorp (NASDAQ:STBA - Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.10, FiscalAI reports. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The firm had revenue of $105.24 million for the quarter, compared to analysts' expectations of $104.43 million.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA traded up $0.77 during midday trading on Thursday, reaching $50.37. 100,610 shares of the company traded hands, compared to its average volume of 249,231. The stock has a 50-day moving average price of $47.19 and a 200 day moving average price of $44.08. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 14.13 and a beta of 0.84. S&T Bancorp has a 52 week low of $34.01 and a 52 week high of $51.01. 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 Increases Dividend

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

Institutional Trading of S&T Bancorp

Several institutional investors have recently modified their holdings of STBA. EverSource Wealth Advisors LLC increased its stake in 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 worth $34,000 after purchasing an additional 888 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in S&T Bancorp during the 3rd quarter worth about $50,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of S&T Bancorp in the 4th quarter valued at about $59,000. Raymond James Financial Inc. purchased a new stake in shares of S&T Bancorp in the second quarter worth approximately $91,000. Finally, iSAM Funds UK Ltd purchased a new position in S&T Bancorp during the third quarter valued at approximately $143,000. Institutional investors and hedge funds own 65.22% of the company's stock.

Analyst Ratings Changes

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

S&T Bancorp Company Profile

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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