S&T Bancorp (STBA) Tops Q3 EPS by 5c, Miss on Revenues

S&T Bancorp (NASDAQ: STBA) reported Q3 EPS of $0.65, $0.05 better than the analyst estimate of $0.60. Revenue for the quarter came in at $66.7 million versus the consensus estimate of $70.97 million.

Third Quarter of 2017 Highlights:

• EPS increased 12% compared to the second quarter of 2017, excluding securities gains of $3.6 million in the second quarter of 2017 (non-GAAP), and improved by 10% from the third quarter of 2016.
• Annualized performance metrics for the third quarter of 2017 were strong, with return on average assets of 1.27%, return on average equity of 10.23% and return on tangible equity of 15.47% (non-GAAP).
• Net interest margin (FTE) (non-GAAP) improved 2 basis points to 3.59% and net interest income increased $0.9 million to $57.5 million compared to the second quarter of 2017.
• Asset quality metrics improved with a decrease in nonperforming loans of $7.2 million, or 20%, compared to the second quarter of 2017.
• Expenses continue to be well controlled with an efficiency ratio of 50.16% (non-GAAP).
• S&T's Board of Directors approved a 10%, or $0.02 per share, increase in the quarterly cash dividend to $0.22 per share.

For earnings history and earnings-related data on S&T Bancorp (STBA) click here.

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