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

Key Points

• S&T Bancorp, Inc. has declared a quarterly dividend of $0.34 per share, which will be distributed to shareholders of record on August 14th, representing an annualized dividend yield of 3.69%.
• The company reported an EPS of $0.83 for the last quarter, exceeding analysts' estimates, and had a revenue of $100.07 million, also above expectations.
• Institutional investors own 65.22% of S&T Bancorp's stock, with notable increases in holdings by funds such as MIRAE Asset Global and AQR Capital Management.

S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Thursday, August 14th will be given a dividend of 0.34 per share by the financial services provider on Thursday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Thursday, August 14th.

S&T Bancorp has a payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 2.5%

Shares of NASDAQ STBA traded down $0.91 during trading hours on Friday, reaching $35.73. The stock had a trading volume of 178,696 shares, compared to its average volume of 125,670. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 10.48 and a beta of 0.93. The business's fifty day moving average price is $37.73 and its two-hundred day moving average price is $37.64. S&T Bancorp has a 52-week low of $30.84 and a 52-week high of $45.46.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.03. The company had revenue of $100.07 million during the quarter, compared to analyst estimates of $99.30 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. Analysts expect that S&T Bancorp will post 3.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Piper Sandler assumed coverage on S&T Bancorp in a research report on Friday, July 18th. They set a "neutral" rating and a $42.00 price target on the stock. Hovde Group initiated coverage on S&T Bancorp in a research report on Friday, June 27th. They issued a "market perform" rating and a $41.00 target price on the stock. Keefe, Bruyette & Woods cut their price target on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th.

S&T Bancorp Company Profile

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.