S&T Bancorp (STBA) Tops Q1 EPS by 5c

S&T Bancorp (NASDAQ: STBA) reported Q1 EPS of $0.75, $0.05 better than the analyst estimate of $0.70.

First Quarter of 2018 Highlights:

• Net income of $26.2 million and diluted EPS of $0.75 both represent record high levels for S&T.
• Diluted EPS increased by 44.2% compared to the first quarter of 2017.
• Annualized performance metrics were solid and improved significantly compared to prior periods, with return on average assets of 1.51%, return on average shareholders\' equity of 11.92% and return on average tangible shareholders' equity of 17.83% (non-GAAP).
• Expenses continue to be well controlled with an efficiency ratio of 50.35% (non-GAAP).
• Net income was positively impacted by the Tax Cuts and Jobs Act (Tax Act) which lowered the federal corporate tax rate from 35% to 21% effective January 1, 2018.
• Nonperforming loans decreased 10.9% compared to the fourth quarter of 2017.
• S&T's Board of Directors approved a 13.6%, or $0.03 per share, increase in the quarterly cash dividend to $0.25 per share. This represents a 25% increase in the dividend from the same period last year.

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

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