$70.31 Million in Sales Expected for S & T Bancorp Inc (STBA) This Quarter
Analysts forecast that S & T Bancorp Inc (NASDAQ:STBA) will post $70.31 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for S & T Bancorp’s earnings. The lowest sales estimate is $70.20 million and the highest is $70.42 million. S & T Bancorp reported sales of $66.87 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The firm is scheduled to announce its next quarterly earnings results on Thursday, April 19th.
On average, analysts expect that S & T Bancorp will report full year sales of $70.31 million for the current financial year, with estimates ranging from $287.19 million to $287.50 million. For the next fiscal year, analysts forecast that the company will post sales of $303.69 million per share, with estimates ranging from $303.69 million to $303.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover S & T Bancorp.
S & T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $70.48 million during the quarter, compared to analyst estimates of $74.58 million.
In other news, CEO Todd D. Brice sold 5,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $40.38, for a total value of $201,900.00. Following the completion of the transaction, the chief executive officer now owns 85,989 shares in the company, valued at approximately $3,472,235.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.71% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. increased its holdings in shares of S & T Bancorp by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 53 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of S & T Bancorp in the 3rd quarter valued at about $216,000. Crossmark Global Holdings Inc. purchased a new position in shares of S & T Bancorp in the 3rd quarter valued at about $236,000. Susquehanna International Group LLP purchased a new position in shares of S & T Bancorp in the 2nd quarter valued at about $248,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of S & T Bancorp in the 2nd quarter valued at about $271,000. Institutional investors and hedge funds own 55.65% of the company’s stock.
S & T Bancorp (NASDAQ:STBA) traded up $0.30 during trading hours on Wednesday, reaching $40.47. 49,866 shares of the company’s stock traded hands, compared to its average volume of 86,816. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1,404.82, a price-to-earnings ratio of 19.36 and a beta of 0.85. S & T Bancorp has a 12 month low of $31.72 and a 12 month high of $43.17.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $0.88 dividend on an annualized basis and a yield of 2.17%. S & T Bancorp’s payout ratio is currently 42.11%.
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About S & T Bancorp
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.
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