S&T Bancorp Posts 3Q EPS of $1.09
STBA sits 40% above its 52-week low of $35.02.
Summary
S&T Bancorp reported third-quarter EPS of $1.09, a record and up 6.9% from the prior quarter, alongside third-quarter net income of $38.6M. The quarter's net interest margin expanded 7 basis points to 4.06% and net interest income rose to $93.1 million, while net charge-offs were $2.1 million, or 0.10% of average loans. Context matters here: Q2 came with a fresh $100 million buyback and an 8.8% dividend hike to $0.37 a quarter, so the bar for capital returns is already set.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — S&T's Q3 net interest margin expanded 7 basis points to 4.06% and net interest income rose to $93.1 million; net charge-offs were $2.1 million, or 0.10% of average loans.
At the time of this announcement, STBA was trading at $48.86 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $35.02 to $53.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.