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

S&T Bancorp, Inc. (NASDAQ:STBA) – Research analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for S&T Bancorp in a report released on Friday, October 18th. DA Davidson analyst M. Navas now forecasts that the financial services provider will earn $3.35 per share for the year, up from their previous estimate of $3.30. DA Davidson has a “Neutral” rating and a $41.00 price target 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.

Separately, StockNews.com lowered 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 %

Shares of S&T Bancorp stock opened at $38.67 on Monday. S&T Bancorp has a 12-month low of $24.51 and a 12-month high of $45.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $41.33 and its 200-day moving average is $36.49. The stock has a market cap of $1.48 billion, a P/E ratio of 11.02 and a beta of 0.79.

Institutional Investors Weigh In On S&T Bancorp

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in S&T Bancorp by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock worth $154,291,000 after purchasing an additional 52,075 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of S&T Bancorp by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider’s stock worth $80,064,000 after buying an additional 32,935 shares during the period. American Century Companies Inc. grew its stake in S&T Bancorp by 29.0% in the 2nd quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider’s stock valued at $19,761,000 after buying an additional 133,108 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in S&T Bancorp by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock valued at $15,638,000 after acquiring an additional 4,126 shares during the period. Finally, Earnest Partners LLC lifted its position in S&T Bancorp by 19.8% during the second quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock worth $9,602,000 after acquiring an additional 47,450 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, August 8th. S&T Bancorp’s dividend payout ratio (DPR) is presently 37.61%.

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.