S & T Bancorp Inc (NASDAQ:STBA) – Investment analysts at Piper Jaffray Companies increased their FY2018 earnings estimates for shares of S & T Bancorp in a report released on Monday, October 22nd. Piper Jaffray Companies analyst M. Breese now expects that the financial services provider will earn $3.02 per share for the year, up from their prior forecast of $2.86. Piper Jaffray Companies also issued estimates for S & T Bancorp’s Q4 2018 earnings at $0.78 EPS, Q3 2019 earnings at $0.81 EPS, Q4 2019 earnings at $0.82 EPS, FY2019 earnings at $3.16 EPS, Q1 2020 earnings at $0.78 EPS, Q3 2020 earnings at $0.84 EPS and FY2020 earnings at $3.28 EPS.
Several other research analysts also recently weighed in on the company. Boenning Scattergood reiterated a “hold” rating on shares of S & T Bancorp in a report on Friday. BidaskClub upgraded S & T Bancorp from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded S & T Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, DA Davidson started coverage on S & T Bancorp in a report on Thursday, August 23rd. They set a “buy” rating and a $54.00 price objective for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $49.00.
S & T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.04. The company had revenue of $71.30 million during the quarter, compared to the consensus estimate of $72.99 million. S & T Bancorp had a return on equity of 11.23% and a net margin of 26.45%.
Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in S & T Bancorp by 2,113.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 496,381 shares of the financial services provider’s stock valued at $1,054,000 after purchasing an additional 473,952 shares in the last quarter. BlackRock Inc. increased its holdings in S & T Bancorp by 6.5% in the 2nd quarter. BlackRock Inc. now owns 4,843,292 shares of the financial services provider’s stock valued at $209,423,000 after purchasing an additional 297,656 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in S & T Bancorp in the 2nd quarter valued at $1,431,000. Dimensional Fund Advisors LP increased its holdings in S & T Bancorp by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,905,574 shares of the financial services provider’s stock valued at $82,397,000 after purchasing an additional 61,048 shares in the last quarter. Finally, LSV Asset Management increased its holdings in S & T Bancorp by 28.2% in the 2nd quarter. LSV Asset Management now owns 216,500 shares of the financial services provider’s stock valued at $9,361,000 after purchasing an additional 47,567 shares in the last quarter. Institutional investors and hedge funds own 60.34% of the company’s stock.
In other news, Director James C. Miller sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $46.44, for a total transaction of $232,200.00. Following the completion of the sale, the director now directly owns 39,948 shares in the company, valued at approximately $1,855,185.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank W. Jones sold 600 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $45.58, for a total value of $27,348.00. Following the sale, the director now owns 24,387 shares of the company’s stock, valued at $1,111,559.46. The disclosure for this sale can be found here. Corporate insiders own 2.53% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from S & T Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 31st. S & T Bancorp’s dividend payout ratio is presently 40.49%.
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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