FY2018 EPS Estimates for S & T Bancorp Inc (NASDAQ:STBA) Increased by Boenning Scattergood

S & T Bancorp Inc (NASDAQ:STBA) – Equities research analysts at Boenning Scattergood increased their FY2018 earnings per share estimates for S & T Bancorp in a research note issued to investors on Wednesday, according to Zacks Investment Research. Boenning Scattergood analyst M. Schultheis now forecasts that the financial services provider will earn $2.85 per share for the year, up from their prior estimate 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 quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. S & T Bancorp had a net margin of 32.00% and a return on equity of 10.33%. The business had revenue of $71.01 million for the quarter, compared to analysts’ expectations of $73.70 million. During the same quarter last year, the company posted $0.59 earnings per share.

Several other brokerages have also recently commented on STBA. BidaskClub raised shares of S & T Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $36.50 price target on shares of S & T Bancorp in a research report on Thursday, October 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $41.50 price target on shares of S & T Bancorp in a research report on Friday, October 20th. Finally, Zacks Investment Research raised shares of S & T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Tuesday, October 24th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.50.

S & T Bancorp (NASDAQ STBA) opened at $41.86 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.95 and a current ratio of 0.96. S & T Bancorp has a 12-month low of $31.72 and a 12-month high of $43.17. The company has a market cap of $1,460.00, a PE ratio of 18.04 and a beta of 0.86.

In other S & T Bancorp news, Director James C. Miller sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $39.56, for a total value of $197,800.00. Following the transaction, the director now owns 44,176 shares of the company’s stock, valued at $1,747,602.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank W. Jones sold 850 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $41.32, for a total transaction of $35,122.00. Following the completion of the transaction, the director now directly owns 24,215 shares in the company, valued at approximately $1,000,563.80. The disclosure for this sale can be found here. Insiders sold 12,051 shares of company stock worth $485,000 in the last three months. 2.71% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of STBA. Burt Wealth Advisors raised its holdings in shares of S & T Bancorp by 3.1% during the second quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock valued at $115,000 after buying an additional 100 shares during the last quarter. KBC Group NV bought a new stake in shares of S & T Bancorp during the second quarter valued at approximately $161,000. Victory Capital Management Inc. raised its holdings in shares of S & T Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,722 shares of the financial services provider’s stock valued at $169,000 after buying an additional 708 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of S & T Bancorp by 1.1% during the second quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after buying an additional 53 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of S & T Bancorp during the third quarter valued at approximately $216,000. 55.18% of the stock is currently owned by hedge funds and other institutional investors.

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S & T Bancorp Company Profile

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.

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