S&T Bancorp (NASDAQ:STBA) Posts Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• S&T Bancorp reported an earnings per share (EPS) of $0.91 for the quarter, exceeding analysts' expectations by $0.07.
• The company announced a quarterly dividend of $0.34 per share, reflecting an annualized dividend of $1.36 and a yield of 3.8%.
• Institutional investors and hedge funds own 65.22% of S&T Bancorp's stock, indicating strong interest from large investors.

S&T Bancorp (NASDAQ:STBA - Get Free Report) posted its quarterly earnings data on Thursday. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.07, Zacks reports. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%.

S&T Bancorp Trading Down 0.5%

STBA traded down $0.18 during mid-day trading on Thursday, hitting $35.51. 24,217 shares of the stock were exchanged, compared to its average volume of 150,291. The firm's fifty day moving average is $37.98 and its two-hundred day moving average is $37.37. S&T Bancorp has a 1-year low of $30.84 and a 1-year high of $45.46. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.36 billion, a PE ratio of 10.41 and a beta of 0.94.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.36 annualized dividend and a yield of 3.8%. S&T Bancorp's dividend payout ratio is presently 39.88%.

Hedge Funds Weigh In On S&T Bancorp

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in S&T Bancorp by 5,223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider's stock worth $34,000 after acquiring an additional 888 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in S&T Bancorp during the 2nd quarter worth about $91,000. Tower Research Capital LLC TRC increased its holdings in S&T Bancorp by 198.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,933 shares of the financial services provider's stock worth $149,000 after purchasing an additional 2,613 shares during the period. BNP Paribas Financial Markets increased its holdings in S&T Bancorp by 58.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,511 shares of the financial services provider's stock worth $171,000 after purchasing an additional 1,666 shares during the period. Finally, Norges Bank purchased a new stake in S&T Bancorp during the 2nd quarter worth about $480,000. Institutional investors and hedge funds own 65.22% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings restated a "hold (c+)" rating on shares of S&T Bancorp in a research report on Wednesday, October 8th. Wall Street Zen upgraded S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Piper Sandler started coverage on S&T Bancorp in a research report on Friday, July 18th. They set a "neutral" rating and a $42.00 price target for the company. Finally, Hovde Group started coverage on 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. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, S&T Bancorp presently has a consensus rating of "Hold" and an average price target of $42.00.

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.

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