DA Davidson Has Positive View of S&T Bancorp FY2024 Earnings

S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) - Equities researchers at DA Davidson lifted their FY2024 earnings estimates for S&T Bancorp in a research note issued to investors on Friday, October 18th. DA Davidson analyst M. Navas now anticipates that the financial services provider will earn $3.35 per share for the year, up from their previous forecast of $3.30. DA Davidson currently has a "Neutral" rating and a $41.00 target price on the stock. The consensus estimate for S&T Bancorp's current full-year earnings is $3.33 per share. DA Davidson also issued estimates for S&T Bancorp's Q4 2024 earnings at $0.76 EPS.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.14. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. The firm had revenue of $142.07 million for the quarter, compared to analyst estimates of $95.85 million. During the same period last year, the company earned $0.89 EPS.

Separately, StockNews.com downgraded shares of S&T Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, October 15th.

S&T Bancorp Trading Down 2.2 %

S&T Bancorp stock traded down $0.88 during mid-day trading on Monday, hitting $38.67. The stock had a trading volume of 152,492 shares, compared to its average volume of 162,623. The stock has a 50-day simple moving average of $41.34 and a two-hundred day simple moving average of $36.43. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.48 billion, a PE ratio of 11.02 and a beta of 0.79. S&T Bancorp has a 12 month low of $24.51 and a 12 month high of $45.79.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.41%. S&T Bancorp's dividend payout ratio is currently 37.61%.

Institutional Investors Weigh In On S&T Bancorp

Institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its stake in S&T Bancorp by 119.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,336 shares of the financial services provider's stock worth $765,000 after acquiring an additional 13,230 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of S&T Bancorp by 23.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 161,151 shares of the financial services provider's stock valued at $5,381,000 after buying an additional 30,945 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in S&T Bancorp by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider's stock worth $1,073,000 after buying an additional 432 shares during the period. Earnest Partners LLC lifted its holdings in S&T Bancorp by 569.7% during the first quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider's stock worth $7,704,000 after acquiring an additional 204,281 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in S&T Bancorp by 33.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,683 shares of the financial services provider's stock valued at $984,000 after acquiring an additional 7,712 shares during the period. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.