DA Davidson Weighs in on S&T Bancorp, Inc.’s Q2 2022 Earnings (NASDAQ:STBA)

S&T Bancorp, Inc. (NASDAQ:STBA – Get Rating) – Research analysts at DA Davidson issued their Q2 2022 earnings per share estimates for shares of S&T Bancorp in a research note issued on Friday, April 22nd. DA Davidson analyst R. Gunther forecasts that the financial services provider will earn $0.61 per share for the quarter. DA Davidson currently has a “Neutral” rating on the stock. DA Davidson also issued estimates for S&T Bancorp’s FY2022 earnings at $2.65 EPS.

STBA has been the subject of a number of other research reports. Zacks Investment Research upgraded S&T Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Wednesday, April 6th. StockNews.com started coverage on S&T Bancorp in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.15.

Shares of STBA opened at $28.84 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.96 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $30.03 and a two-hundred day simple moving average of $31.00. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 10.53 and a beta of 0.67. S&T Bancorp has a 52 week low of $27.02 and a 52 week high of $34.68.

S&T Bancorp (NASDAQ:STBA – Get Rating) last issued its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.15. S&T Bancorp had a return on equity of 9.00% and a net margin of 30.99%. During the same period in the previous year, the business earned $0.81 earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its stake in shares of S&T Bancorp by 12.5% in the 1st quarter. First Trust Advisors LP now owns 86,468 shares of the financial services provider’s stock valued at $3,418,000 after purchasing an additional 9,587 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in S&T Bancorp in the first quarter valued at approximately $115,000. Millennium Management LLC lifted its stake in S&T Bancorp by 58.2% during the second quarter. Millennium Management LLC now owns 10,541 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 3,879 shares in the last quarter. Morgan Stanley lifted its stake in S&T Bancorp by 36.4% during the second quarter. Morgan Stanley now owns 171,133 shares of the financial services provider’s stock worth $5,356,000 after purchasing an additional 45,679 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in S&T Bancorp by 19.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 88,737 shares of the financial services provider’s stock worth $2,615,000 after purchasing an additional 14,673 shares in the last quarter. Institutional investors own 59.43% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.16%. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, May 4th. S&T Bancorp’s dividend payout ratio is presently 42.34%.

About S&T Bancorp (Get Rating)

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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