S&T Bancorp, Inc. (NASDAQ:STBA) to Issue $0.34 Quarterly Dividend

S&T Bancorp, Inc. (NASDAQ:STBA) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Thursday, February 13th will be given a dividend of 0.34 per share by the financial services provider on Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, February 13th.

S&T Bancorp has increased its dividend payment by an average of 5.6% annually over the last three years and has raised its dividend every year for the last 13 years. S&T Bancorp has a payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect S&T Bancorp to earn $3.29 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 41.3%.

S&T Bancorp Stock Down 1.0 %

STBA stock opened at $40.03 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $39.25 and a two-hundred day moving average price of $40.61. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 11.74 and a beta of 0.84. S&T Bancorp has a twelve month low of $28.83 and a twelve month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. Analysts anticipate that S&T Bancorp will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of S&T Bancorp stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total transaction of $215,272.22. Following the completion of the sale, the director now directly owns 23,143 shares of the company’s stock, valued at approximately $1,000,009.03. This trade represents a 17.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.