$72.87 Million in Sales Expected for S & T Bancorp Inc (STBA) This Quarter
Brokerages predict that S & T Bancorp Inc (NASDAQ:STBA) will announce $72.87 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for S & T Bancorp’s earnings, with the highest sales estimate coming in at $73.99 million and the lowest estimate coming in at $71.40 million. S & T Bancorp posted sales of $70.65 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The company is expected to announce its next earnings results on Thursday, July 18th.
According to Zacks, analysts expect that S & T Bancorp will report full-year sales of $294.35 million for the current financial year, with estimates ranging from $289.40 million to $296.50 million. For the next financial year, analysts expect that the business will post sales of $305.91 million, with estimates ranging from $300.40 million to $308.66 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for S & T Bancorp.
S & T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.08). S & T Bancorp had a net margin of 29.41% and a return on equity of 11.02%. The firm had revenue of $71.72 million for the quarter, compared to analysts’ expectations of $72.39 million.
NASDAQ STBA traded down $0.49 during trading hours on Wednesday, reaching $38.65. 38,100 shares of the stock traded hands, compared to its average volume of 92,773. S & T Bancorp has a 1 year low of $35.16 and a 1 year high of $47.77. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.30 and a beta of 0.70.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.79%. S & T Bancorp’s dividend payout ratio is currently 35.88%.
In related news, Director James Thomas Gibson acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were purchased at an average price of $38.89 per share, for a total transaction of $466,680.00. Following the completion of the acquisition, the director now owns 201,780 shares in the company, valued at $7,847,224.20. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in STBA. Piedmont Investment Advisors Inc. raised its holdings in shares of S & T Bancorp by 3.3% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 8,321 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 267 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in S & T Bancorp by 1.2% in the 4th quarter. Advisors Asset Management Inc. now owns 29,512 shares of the financial services provider’s stock valued at $1,117,000 after purchasing an additional 342 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in S & T Bancorp by 6.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,391 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 424 shares during the last quarter. Comerica Bank boosted its holdings in S & T Bancorp by 0.7% in the 1st quarter. Comerica Bank now owns 67,127 shares of the financial services provider’s stock valued at $2,684,000 after purchasing an additional 490 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in S & T Bancorp by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 24,983 shares of the financial services provider’s stock valued at $945,000 after purchasing an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 62.86% of the company’s stock.
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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