Boenning Scattergood Analysts Lift Earnings Estimates for S & T Bancorp Inc (STBA)

S & T Bancorp Inc (NASDAQ:STBA) – Stock analysts at Boenning Scattergood boosted their FY2018 earnings per share estimates for shares of S & T Bancorp in a research note issued to investors on Wednesday. Boenning Scattergood analyst M. Schultheis now expects that the financial services provider will post earnings per share of $2.85 for the year, up from their prior forecast of $2.50. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for S & T Bancorp’s FY2019 earnings at $2.96 EPS.

S & T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. S & T Bancorp had a return on equity of 9.41% and a net margin of 26.44%. The firm had revenue of $71.01 million for the quarter, compared to the consensus estimate of $73.70 million. During the same quarter in the previous year, the company posted $0.59 earnings per share.

STBA has been the topic of a number of other research reports. BidaskClub downgraded S & T Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded S & T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $41.50 target price on shares of S & T Bancorp in a research note on Friday, October 20th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $36.50 target price on shares of S & T Bancorp in a research note on Thursday, October 19th. Five analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $41.33.

Shares of S & T Bancorp (NASDAQ:STBA) traded up $0.37 during midday trading on Friday, reaching $40.82. The company’s stock had a trading volume of 62,900 shares, compared to its average volume of 81,284. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.07. S & T Bancorp has a 1 year low of $31.72 and a 1 year high of $43.17. The stock has a market capitalization of $1,414.91, a P/E ratio of 17.36 and a beta of 0.86.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Burt Wealth Advisors lifted its position in shares of S & T Bancorp by 3.1% during the 2nd quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 100 shares during the last quarter. KBC Group NV acquired a new position in S & T Bancorp in the 2nd quarter valued at approximately $161,000. Victory Capital Management Inc. raised its holdings in S & T Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,722 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 708 shares in the last quarter. Advisor Group Inc. raised its holdings in 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 acquiring an additional 53 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in S & T Bancorp in the 3rd quarter valued at approximately $216,000. 55.18% of the stock is owned by institutional investors and hedge funds.

In other S & T Bancorp news, Director David Krieger sold 1,201 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $41.78, for a total value of $50,177.78. Following the completion of the sale, the director now owns 18,045 shares of the company’s stock, valued at $753,920.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd D. Brice sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $40.38, for a total value of $201,900.00. Following the completion of the sale, the chief executive officer now directly owns 85,989 shares of the company’s stock, valued at approximately $3,472,235.82. The disclosure for this sale can be found here. Insiders sold 12,051 shares of company stock valued at $485,000 in the last ninety days. Insiders own 2.71% of the company’s stock.

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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.

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

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