$70.06 Million in Sales Expected for S & T Bancorp Inc (STBA) This Quarter

Wall Street brokerages expect that S & T Bancorp Inc (NASDAQ:STBA) will report $70.06 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for S & T Bancorp’s earnings, with estimates ranging from $69.60 million to $70.80 million. S & T Bancorp reported sales of $72.84 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, July 19th.

According to Zacks, analysts expect that S & T Bancorp will report full year sales of $284.87 million for the current fiscal year, with estimates ranging from $283.30 million to $286.30 million. For the next fiscal year, analysts expect that the business will post sales of $298.66 million per share, with estimates ranging from $296.80 million to $301.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover S & T Bancorp.

S & T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The business had revenue of $70.72 million during the quarter, compared to analyst estimates of $70.31 million. S & T Bancorp had a net margin of 25.00% and a return on equity of 10.67%.

Several brokerages have weighed in on STBA. Boenning Scattergood reissued a “hold” rating on shares of S & T Bancorp in a report on Monday, June 4th. BidaskClub raised shares of S & T Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. ValuEngine lowered shares of S & T Bancorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Zacks Investment Research lowered shares of S & T Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $43.83.

In other S & T Bancorp news, Director Robert Edward Kane purchased 1,000 shares of S & T Bancorp stock in a transaction dated Monday, May 14th. The shares were bought at an average cost of $43.92 per share, for a total transaction of $43,920.00. Following the transaction, the director now owns 3,003 shares in the company, valued at approximately $131,891.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David P. Ruddock sold 1,754 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $42.36, for a total transaction of $74,299.44. Following the completion of the transaction, the insider now owns 9,000 shares in the company, valued at $381,240. The disclosure for this sale can be found here. 2.71% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in shares of S & T Bancorp by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 58,202 shares of the financial services provider’s stock worth $2,318,000 after buying an additional 12,786 shares during the last quarter. Swiss National Bank lifted its position in shares of S & T Bancorp by 3.8% in the 4th quarter. Swiss National Bank now owns 59,600 shares of the financial services provider’s stock worth $2,373,000 after buying an additional 2,200 shares during the last quarter. Deutsche Bank AG lifted its position in shares of S & T Bancorp by 96.8% in the 4th quarter. Deutsche Bank AG now owns 92,938 shares of the financial services provider’s stock worth $3,697,000 after buying an additional 45,722 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of S & T Bancorp by 65.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 109,734 shares of the financial services provider’s stock worth $4,368,000 after buying an additional 43,400 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of S & T Bancorp by 224.5% in the 4th quarter. Arizona State Retirement System now owns 58,795 shares of the financial services provider’s stock worth $2,341,000 after buying an additional 40,674 shares during the last quarter. Institutional investors own 58.53% of the company’s stock.

S & T Bancorp traded up $0.27, hitting $44.87, during mid-day trading on Friday, MarketBeat reports. 46,500 shares of the company were exchanged, compared to its average volume of 103,686. The firm has a market cap of $1.55 billion, a P/E ratio of 18.17 and a beta of 0.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. S & T Bancorp has a twelve month low of $33.92 and a twelve month high of $46.44.

S & T Bancorp declared that its Board of Directors has authorized a stock buyback program on Thursday, March 22nd that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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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Earnings History and Estimates for S & T Bancorp (NASDAQ:STBA)

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