Overview

• US regional bank's Q2 net income and EPS rose yr/yr and sequentially

• Company repurchased $47.6 mln in shares and authorized new $100 mln buyback program

Outlook

• Company did not provide specific guidance for the current quarter or full year in press release

Result Drivers

• NET INTEREST INCOME - Higher net interest income driven by a wider net interest margin and improved funding mix

• LOAN GROWTH - Total portfolio loans increased, led by commercial and industrial and commercial construction lending

Company press release: ID:nPn6jPNPna

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 EPS		$1.02
Q2 Net Income		$36.64 mln

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for S&T Bancorp Inc is $48.50, about 2.2% below its July 22 closing price of $49.60

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads

• July 23 - Civista Bancshares Q2 profit rises 30%, interest margin expands

• July 23 - Dime Community Bancshares Q2 revenue hits record on loan growth

• July 22 - Univest Financial Q2 net income rises on higher net interest income

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