S&T Bancorp, Inc. (NASDAQ:STBA) Announces Quarterly Dividend of $0.28
S&T Bancorp, Inc. (NASDAQ:STBA) announced a quarterly dividend on Wednesday, April 21st, Wall Street Journal reports. Stockholders of record on Thursday, May 6th will be paid a dividend of 0.28 per share by the financial services provider on Thursday, May 20th. This represents a $1.12 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, May 5th.
S&T Bancorp has raised its dividend by 36.6% over the last three years and has raised its dividend every year for the last 1 years. S&T Bancorp has a payout ratio of 47.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect S&T Bancorp to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 54.6%.
Shares of NASDAQ STBA opened at $33.54 on Tuesday. The company’s 50-day simple moving average is $33.26 and its 200-day simple moving average is $27.40. S&T Bancorp has a 52-week low of $16.98 and a 52-week high of $35.79. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 62.11 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of S&T Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, February 18th. DA Davidson downgraded shares of S&T Bancorp from a “buy” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research note on Monday, January 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $28.25.
In related news, Director Jerry Delmar Hostetter sold 4,081 shares of the stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $28.48, for a total value of $116,226.88. Following the completion of the transaction, the director now directly owns 15,167 shares in the company, valued at $431,956.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Hieb sold 13,916 shares of the stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $28.00, for a total value of $389,648.00. Following the completion of the transaction, the director now owns 41,250 shares of the company’s stock, valued at $1,155,000. The disclosure for this sale can be found here. Corporate insiders own 2.18% of the company’s stock.
About S&T Bancorp
S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Business banking, Commercial Construction, Consumer Real Estate, and Other Consumer.
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