S&T Bancorp (STBA) Misses Q1 EPS by 16c

S&T Bancorp (NASDAQ: STBA) reported Q1 EPS of $0.34, $0.16 worse than the analyst estimate of $0.50.

First Quarter of 2020 Highlights:

• Portfolio loans increased $109.6 million, or 6.2% annualized, compared to the fourth quarter of 2019.
• Net interest margin was 3.53% compared to 3.55% for the fourth quarter of 2019 and 3.71% for the same quarter a year ago.
• Return on average assets (ROA) was 0.61%, return on average equity (ROE) was 4.47% and return on average tangible equity (ROTE) (non-GAAP) was 6.82%. Excluding $2.3 million of merger related expenses ROA was 0.70% (non-GAAP), ROE was 5.13% (non-GAAP) and ROTE was 7.79% (non-GAAP)
• S&T's Board of Directors declared a $0.28 per share dividend. This is an increase of 3.7% compared to a dividend of $0.27 per share declared in the same period in the prior year.

"Despite facing obvious challenges in the final month of the quarter, it has been rewarding to see the commitment and dedication of the S&T Bank team to adapt to a rapidly changing environment,\" said Todd Brice, Chief Executive Officer. "The pandemic has presented many uncertainties, but the response of our employees to assist clients has been amazing and will strengthen our long-standing relationships with them." Mr. Brice continued, "Prior to the COVID-19 pandemic we had tremendous momentum across all our lines of business and markets and are well positioned to capitalize on opportunities as the economy recovers."

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

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