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

Key Points

• S&T Bancorp declared a quarterly dividend of $0.37 per share, payable August 27 to shareholders of record on August 18. The dividend implies a $1.48 annualized payout and a 2.8% yield.
• The company has increased its dividend for 13 consecutive years, with a 43.7% payout ratio and an expected future payout ratio of 37.0%, indicating earnings currently provide solid coverage.
• S&T Bancorp reported quarterly EPS of $1.02, exceeding analysts’ $0.92 estimate, while revenue reached $105.24 million. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, August 18th will be given a dividend of 0.37 per share by the financial services provider on Thursday, August 27th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 18th.

S&T Bancorp has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 13 consecutive years. S&T Bancorp has a payout ratio of 43.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect S&T Bancorp to earn $4.00 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 37.0%.

S&T Bancorp Price Performance

STBA stock opened at $52.60 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. S&T Bancorp has a 52 week low of $34.38 and a 52 week high of $53.50. The company has a fifty day simple moving average of $48.74 and a two-hundred day simple moving average of $44.96. The firm has a market capitalization of $1.89 billion, a P/E ratio of 13.99 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.10. The firm had revenue of $105.24 million during the quarter, compared to analysts' expectations of $104.43 million. S&T Bancorp had a return on equity of 9.74% and a net margin of 24.51%. Analysts anticipate that S&T Bancorp will post 3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On S&T Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in S&T Bancorp by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,345,177 shares of the financial services provider's stock valued at $98,098,000 after purchasing an additional 6,583 shares in the last quarter. State Street Corp grew its stake in shares of S&T Bancorp by 3.7% during the fourth quarter. State Street Corp now owns 1,723,385 shares of the financial services provider's stock worth $67,815,000 after purchasing an additional 61,800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of S&T Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,624,436 shares of the financial services provider's stock worth $63,922,000 after acquiring an additional 20,411 shares in the last quarter. Geode Capital Management LLC boosted its holdings in S&T Bancorp by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 958,685 shares of the financial services provider's stock valued at $37,729,000 after purchasing an additional 3,388 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of S&T Bancorp by 33.5% in the 3rd quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider's stock valued at $17,260,000 after buying an additional 115,333 shares in the last quarter. Hedge funds and other institutional investors own 65.22% of the company's stock.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company's main business activities encompass a full suite of retail and commercial banking products.

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