S&T Bancorp's Q2 profit rises on higher interest income
STBA•Drivers of the quarter
Higher net interest income was driven by a wider net interest margin and improved funding mix.
Total portfolio loans increased, led by commercial and industrial and commercial construction lending.
Guidance and key details
The company did not provide specific guidance for the current quarter or full year in its press release.
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 EPS | $1.02 | |
| Q2 Net Income | $36.64 mln |
Analyst coverage and valuation
The current average analyst rating on the shares is hold, with 1 strong buy or buy, 6 hold and no sell or strong sell recommendations.
The average consensus recommendation for the banks peer group is buy.
Wall Street's median 12-month price target for S&T Bancorp Inc is $48.50, about 2.2% below its July 22 closing price of $49.60.
The stock recently traded at 13 times the next 12-month earnings, versus a P/E of 11 three months ago.
