S & T Bancorp Inc (NASDAQ:STBA) Expected to Post Quarterly Sales of $73.98 Million
Analysts expect that S & T Bancorp Inc (NASDAQ:STBA) will report sales of $73.98 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for S & T Bancorp’s earnings. The highest sales estimate is $74.74 million and the lowest is $72.80 million. S & T Bancorp reported sales of $71.30 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The firm is scheduled to announce its next earnings report on Thursday, October 17th.
On average, analysts expect that S & T Bancorp will report full year sales of $295.92 million for the current fiscal year, with estimates ranging from $289.40 million to $301.70 million. For the next fiscal year, analysts anticipate that the business will post sales of $352.85 million, with estimates ranging from $348.21 million to $361.35 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 released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.08). S & T Bancorp had a net margin of 30.00% and a return on equity of 11.35%. The business had revenue of $71.72 million during the quarter, compared to analyst estimates of $72.39 million.
Shares of STBA stock traded down $0.27 on Tuesday, hitting $37.34. The company’s stock had a trading volume of 119,684 shares, compared to its average volume of 121,922. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.98. The business has a 50 day simple moving average of $37.51. S & T Bancorp has a fifty-two week low of $35.16 and a fifty-two week high of $47.77. The company has a market cap of $1.28 billion, a P/E ratio of 12.41, a PEG ratio of 1.26 and a beta of 0.65.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.08 dividend on an annualized basis and a yield of 2.89%. S & T Bancorp’s payout ratio is 35.88%.
In other news, CEO Todd D. Brice acquired 2,036 shares of S & T Bancorp stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $37.31 per share, for a total transaction of $75,963.16. Following the completion of the purchase, the chief executive officer now directly owns 91,520 shares of the company’s stock, valued at approximately $3,414,611.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of STBA. Amundi Pioneer Asset Management Inc. bought a new position in shares of S & T Bancorp in the first quarter worth about $115,000. Denali Advisors LLC lifted its holdings in shares of S & T Bancorp by 3,853.2% in the first quarter. Denali Advisors LLC now owns 4,309 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 4,200 shares during the last quarter. Lido Advisors LLC bought a new position in shares of S & T Bancorp in the first quarter worth about $208,000. Everence Capital Management Inc. bought a new position in shares of S & T Bancorp in the first quarter worth about $236,000. Finally, Millennium Management LLC lifted its holdings in shares of S & T Bancorp by 47.0% in the fourth quarter. Millennium Management LLC now owns 6,931 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 2,216 shares during the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.
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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