S&T Bancorp, Inc. (NASDAQ:STBA) to Issue $0.33 Quarterly Dividend

S&T Bancorp, Inc. (NASDAQ:STBA) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Thursday, August 8th will be given a dividend of 0.33 per share by the financial services provider on Thursday, August 22nd. This represents a $1.32 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 8th.

S&T Bancorp has raised its dividend payment by an average of 4.8% annually over the last three years and has increased its dividend every year for the last 11 years. S&T Bancorp has a dividend payout ratio of 42.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect S&T Bancorp to earn $3.06 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 43.1%.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $44.83 on Friday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 12.70 and a beta of 0.81. The company has a 50 day moving average price of $33.74 and a 200 day moving average price of $32.35. S&T Bancorp has a one year low of $24.51 and a one year high of $45.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.14. S&T Bancorp had a return on equity of 10.63% and a net margin of 24.20%. The business had revenue of $142.07 million for the quarter, compared to analyst estimates of $95.85 million. During the same period last year, the company posted $0.89 EPS. Sell-side analysts anticipate that S&T Bancorp will post 3.22 EPS for the current year.

Insider Buying and Selling at S&T Bancorp

In other news, Director William J. Hieb sold 11,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $31.05, for a total value of $341,550.00. Following the completion of the sale, the director now owns 31,770 shares of the company’s stock, valued at $986,458.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on STBA. StockNews.com upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. DA Davidson increased their price objective on shares of S&T Bancorp from $32.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th.

S&T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.