Regional banking company S&T Bancorp (NASDAQ: STBA) will be reporting results this Thursday before the bell. Here’s what investors should know.
S&T Bancorp beat analysts’ revenue expectations last quarter, reporting revenues of $105.9 million, up 11.5% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ revenue estimates but a narrow beat of analysts’ EPS estimates.
Is S&T Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting S&T Bancorp’s revenue to grow 9.9% year on year, a reversal from the 2.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. S&T Bancorp has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at S&T Bancorp’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.2%, beating analysts’ expectations by 4.8%, and East West Bank reported revenues up 11.8%, topping estimates by 2.8%.
Read our full analysis of OFG Bancorp’s results here and East West Bank’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 8.8% on average over the last month. S&T Bancorp is up 6% during the same time and is heading into earnings with an average analyst price target of $44.67 (compared to the current share price of $43.41).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a $437 billion giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
