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

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) announced a quarterly dividend on Wednesday, July 30th, RTT News reports. Investors of record on Thursday, August 14th will be paid 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 yield of 3.8%. The ex-dividend date of this dividend is Thursday, August 14th.

S&T Bancorp has a payout ratio of 40.1% indicating that 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 2.5%

STBA stock traded down $0.91 during trading on Friday, reaching $35.73. 178,696 shares of the company traded hands, compared to its average volume of 159,742. S&T Bancorp has a 12 month low of $30.84 and a 12 month high of $45.46. The business has a 50 day simple moving average of $37.74 and a 200 day simple moving average of $37.65. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 10.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.03. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. The company had revenue of $100.07 million for the quarter, compared to the consensus estimate of $99.30 million. On average, equities research analysts anticipate that S&T Bancorp will post 3.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On S&T Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in S&T Bancorp by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider's stock worth $176,453,000 after acquiring an additional 160,453 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of S&T Bancorp by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,574,596 shares of the financial services provider's stock worth $58,339,000 after purchasing an additional 81,469 shares during the last quarter. Northern Trust Corp raised its stake in shares of S&T Bancorp by 21.7% in the fourth quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider's stock worth $18,476,000 after purchasing an additional 86,317 shares during the last quarter. Nuveen LLC purchased a new position in shares of S&T Bancorp in the first quarter worth about $13,151,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of S&T Bancorp by 1.0% in the first quarter. Bridgeway Capital Management LLC now owns 289,222 shares of the financial services provider's stock worth $10,716,000 after purchasing an additional 2,767 shares during the last quarter. Institutional investors and hedge funds own 65.22% of the company's stock.

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.