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

S&T Bancorp, Inc. (NASDAQ:STBA) declared 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 annually for the last 11 consecutive years. S&T Bancorp has a payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

STBA stock opened at $44.83 on Friday. The stock’s 50 day moving average is $33.74 and its two-hundred day moving average is $32.35. S&T Bancorp has a 52-week low of $24.51 and a 52-week high of $45.79. The company has a market capitalization of $1.71 billion, a PE ratio of 12.70 and a beta of 0.81. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. The business had revenue of $142.07 million during the quarter, compared to the consensus estimate of $95.85 million. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. During the same quarter last year, the company earned $0.89 earnings per share. Analysts predict that S&T Bancorp will post 3.22 earnings per share for the current fiscal year.

Insider Activity

In other S&T Bancorp news, Director William J. Hieb sold 11,000 shares of S&T Bancorp stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $31.05, for a total value of $341,550.00. Following the completion of the transaction, the director now owns 31,770 shares of the company’s stock, valued at $986,458.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. DA Davidson boosted their target price 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. StockNews.com upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

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.