S&T Bancorp, Inc. (NASDAQ:STBA) Declares Quarterly Dividend of $0.37

Key Points

• S&T Bancorp declared a quarterly dividend of $0.37 per share, payable November 27 to shareholders of record November 12. The annualized dividend is $1.48 per share, representing a 2.9% yield.
• The dividend appears well covered, with a current payout ratio of 43.7%; analysts expect next year’s earnings to support a projected payout ratio of 36.2%.
• S&T Bancorp also authorized a $100 million share-repurchase program, allowing buybacks of up to 5.6% of outstanding shares. Its latest quarterly EPS of $1.09 exceeded analysts’ $0.99 estimate.

S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.37 per share by the financial services provider on Friday, November 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 12th.

S&T Bancorp has a payout ratio of 43.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect S&T Bancorp to earn $4.09 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 36.2%.

S&T Bancorp Stock Performance

Shares of STBA opened at $50.48 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 12.81 and a beta of 0.85. The company's 50 day simple moving average is $49.55 and its 200 day simple moving average is $46.27. S&T Bancorp has a 1 year low of $35.68 and a 1 year high of $53.50.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its earnings results on Thursday, October 22nd. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. S&T Bancorp had a net margin of 25.10% and a return on equity of 10.11%. The firm had revenue of $107.79 million during the quarter, compared to analysts' expectations of $106.72 million. On average, sell-side analysts predict that S&T Bancorp will post 4.05 EPS for the current year.

S&T Bancorp declared that its Board of Directors has authorized a stock repurchase program on Thursday, July 23rd that permits the company to buy back $100 million in shares. This repurchase authorization permits the financial services provider to purchase up to 5.6% of its stock through open market purchases. Share repurchase programs are often an indication that the company's board believes its shares are undervalued.

About S&T Bancorp

S&T Bancorp, Inc is the financial holding company for S&T Bank, a community bank headquartered in Indiana, Pennsylvania. Founded in 1902, S&T Bank serves consumers, businesses, and institutions through a network of banking offices and digital channels.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing, and business loans. It also offers treasury and cash-management services designed to support business customers.

S&T Bank serves communities primarily across western Pennsylvania and eastern Ohio.

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