S&T Bancorp (STBA) Beats Q2 Earnings and Revenue Estimates

Company Performance - S&T Bancorp reported quarterly earnings of $0.89 per share, exceeding the Zacks Consensus Estimate of$0.75 per share, and matching the earnings from the same quarter last year [1] - The company has surpassed consensus EPS estimates three times over the last four quarters [2] - Revenues for the quarter ended June 2024 were $96.9 million, surpassing the Zacks Consensus Estimate by 1.09$102.31 million a year ago [14] Stock Performance - S&T Bancorp shares have increased approximately 19.1% since the beginning of the year, compared to a 17.2% gain for the S&P 500 [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [11] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.76 on revenues of$97 million, and $3.02 on revenues of$385.9 million for the current fiscal year [5] - The trend of estimate revisions for S&T Bancorp is mixed, which may change following the recent earnings report [10][11] Industry Context - S&T Bancorp operates within the Banks - Northeast industry, which is currently ranked in the bottom 41% of over 250 Zacks industries [12] - The performance of S&T Bancorp's stock may be influenced by the overall outlook for the banking industry [12]