S&T Bancorp First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

S&T Bancorp (NASDAQ:STBA) First Quarter 2024 Results

Key Financial Results

• Revenue: US$93.7m (down 7.3% from 1Q 2023).
• Net income: US$31.2m (down 21% from 1Q 2023).
• Profit margin: 33% (down from 39% in 1Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.81 (down from US$1.02 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

S&T Bancorp EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 3.3%.

Looking ahead, revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for S&T Bancorp that you need to take into consideration.

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