Overview

* S&T Bancorp ( STBA ) Q3 net income rises to $35.0 mln, EPS increases to $0.91

* Net interest income grows 3% in Q3, reflecting margin expansion

* Nonperforming assets increase to $49.6 mln, net charge-offs rise

Outlook

* Company did not provide specific future guidance

Result Drivers

* NET INTEREST INCOME - Net interest income increased by $2.6 mln, or 3%, driven by a 5 basis point expansion in net interest margin

* LOAN GROWTH - Total portfolio loans increased by $46.6 mln, driven by growth in residential mortgage and home equity loans

* EXPENSE MANAGEMENT - Noninterest expenses decreased by $1.7 mln due to lower salaries and professional services costs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.91

Q3 Net $34.96

Income mln

Q3 Net $89.24

Interest mln

Income

Q3 $2.79

Credit mln

Loss

Provisio

n

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "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 ( STBA ) is $41.00, about 12.7% above its October 21 closing price of $35.81

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)