S & T Bancorp Inc (NASDAQ:STBA) – Research analysts at Piper Jaffray Companies lowered their Q3 2019 earnings per share (EPS) estimates for S & T Bancorp in a note issued to investors on Monday, February 4th. Piper Jaffray Companies analyst M. Breese now anticipates that the financial services provider will post earnings of $0.77 per share for the quarter, down from their previous forecast of $0.81. Piper Jaffray Companies also issued estimates for S & T Bancorp’s Q4 2019 earnings at $0.78 EPS, FY2019 earnings at $3.00 EPS, Q3 2020 earnings at $0.81 EPS, Q4 2020 earnings at $0.82 EPS and FY2020 earnings at $3.15 EPS.
S & T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, January 31st. The financial services provider reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.01). The firm had revenue of $70.94 million for the quarter, compared to analyst estimates of $72.94 million. S & T Bancorp had a net margin of 31.07% and a return on equity of 11.52%.
A number of other research firms have also weighed in on STBA. BidaskClub raised shares of S & T Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Boenning Scattergood reaffirmed a “hold” rating on shares of S & T Bancorp in a report on Friday, October 19th. ValuEngine raised shares of S & T Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Finally, Zacks Investment Research raised shares of S & T Bancorp from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. S & T Bancorp presently has an average rating of “Hold” and an average target price of $51.00.
STBA opened at $39.32 on Wednesday. The firm has a market cap of $1.36 billion, a P/E ratio of 13.06, a PEG ratio of 1.24 and a beta of 0.67. S & T Bancorp has a twelve month low of $35.16 and a twelve month 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.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in S & T Bancorp by 4.0% during the 3rd quarter. BlackRock Inc. now owns 5,038,204 shares of the financial services provider’s stock worth $218,456,000 after acquiring an additional 194,912 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of S & T Bancorp by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,504,643 shares of the financial services provider’s stock valued at $151,961,000 after buying an additional 82,592 shares during the period. Vanguard Group Inc boosted its holdings in shares of S & T Bancorp by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 3,504,643 shares of the financial services provider’s stock valued at $151,961,000 after buying an additional 82,592 shares during the period. Northern Trust Corp boosted its holdings in shares of S & T Bancorp by 0.9% in the 2nd quarter. Northern Trust Corp now owns 948,156 shares of the financial services provider’s stock valued at $40,999,000 after buying an additional 8,222 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of S & T Bancorp by 3.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 505,405 shares of the financial services provider’s stock valued at $21,914,000 after buying an additional 18,706 shares during the period. 60.25% of the stock is owned by institutional investors.
In related news, Director Robert Edward Kane acquired 1,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was bought at an average cost of $41.13 per share, with a total value of $41,130.00. Following the acquisition, the director now directly owns 4,775 shares in the company, valued at $196,395.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.53% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.75%. The ex-dividend date is Wednesday, February 13th. S & T Bancorp’s dividend payout ratio is currently 35.88%.
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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