S&T Bancorp, Inc. (NASDAQ:STBA – Free Report) – DA Davidson boosted their FY2023 earnings per share (EPS) estimates for S&T Bancorp in a research note issued on Monday, October 23rd. DA Davidson analyst M. Navas now anticipates that the financial services provider will earn $3.65 per share for the year, up from their prior forecast of $3.59. The consensus estimate for S&T Bancorp’s current full-year earnings is $3.65 per share. DA Davidson also issued estimates for S&T Bancorp’s Q4 2023 earnings at $0.85 EPS.
Several other brokerages have also commented on STBA. Stephens increased their price objective on S&T Bancorp from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, July 24th. StockNews.com began coverage on S&T Bancorp in a report on Thursday, October 5th. They set a “hold” rating for the company.
S&T Bancorp Stock Down 2.1 %
S&T Bancorp stock opened at $24.99 on Tuesday. The business has a fifty day moving average of $27.53 and a two-hundred day moving average of $28.26. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.07. The firm has a market cap of $955.62 million, a P/E ratio of 6.56 and a beta of 0.75. S&T Bancorp has a twelve month low of $24.84 and a twelve month high of $38.43.
S&T Bancorp (NASDAQ:STBA – Get Free Report) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The company had revenue of $135.14 million for the quarter, compared to analysts’ expectations of $101.80 million. S&T Bancorp had a return on equity of 12.21% and a net margin of 29.04%. During the same quarter in the prior year, the company earned $0.95 EPS.
Institutional Trading of S&T Bancorp
Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its stake in S&T Bancorp by 6.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 9,104 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 512 shares during the last quarter. Brookstone Capital Management raised its stake in S&T Bancorp by 3.6% in the 3rd quarter. Brookstone Capital Management now owns 54,942 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 1,929 shares during the last quarter. SG Americas Securities LLC raised its stake in S&T Bancorp by 289.7% in the 3rd quarter. SG Americas Securities LLC now owns 23,922 shares of the financial services provider’s stock worth $648,000 after acquiring an additional 17,784 shares during the last quarter. Legato Capital Management LLC purchased a new position in S&T Bancorp in the 3rd quarter worth $1,003,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in S&T Bancorp by 6.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 12,094 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 687 shares during the last quarter. Hedge funds and other institutional investors own 63.42% of the company’s stock.
S&T Bancorp Company Profile
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 operates through six segments: Commercial Real Estate, Commercial and Industrial, Business Banking, Commercial Construction, Consumer Real Estate, and Other Consumer.
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