Seeking Alpha

S&T Bancorp up 2% after upgrade

  • Coming 24 hours after S&T Bancorp (STBA +2%) reported a bottom line beat, Guggenheim pulls its Sell rating and lifts the price target by $1 to $28.
  • Net income of $14.7M or $0.49 per share rose from $14M and $0.47 the previous quarter. The bank reported loan growth of 1% during Q2 and NIM rising five basis points to 3.56%. Nonperforming loans fell 29% o $14.9M.
  • Previously: S&T Bancorp beats by $0.05, misses on revenue
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