S&T Bancorp, Inc. (NASDAQ:STBA) Increases Dividend to $0.37 Per Share

S&T Bancorp, Inc. (NASDAQ:STBA) declared a quarterly dividend on Wednesday, April 29th. Stockholders of record on Thursday, May 14th will be paid a dividend of 0.37 per share by the financial services provider on Thursday, May 28th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, May 14th. This is a 2.8% increase from S&T Bancorp’s previous quarterly dividend of $0.36.

S&T Bancorp has raised its dividend 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 42.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect S&T Bancorp to earn $3.84 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 37.5%.

S&T Bancorp Stock Up 1.1%

Shares of S&T Bancorp stock traded up $0.47 on Thursday, reaching $44.24. The stock had a trading volume of 36,202 shares, compared to its average volume of 235,515. The company has a 50 day moving average price of $42.40 and a 200 day moving average price of $40.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp has a 1 year low of $34.01 and a 1 year high of $44.91. The stock has a market capitalization of $1.62 billion, a P/E ratio of 12.39 and a beta of 0.86.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The firm had revenue of $102.08 million for the quarter, compared to the consensus estimate of $103.62 million. As a group, equities research analysts forecast that S&T Bancorp will post 3.75 EPS for the current year.

Institutional Trading of S&T Bancorp

A number of hedge funds have recently added to or reduced their stakes in STBA. Millennium Management LLC boosted its holdings in S&T Bancorp by 33.5% during the third quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock worth $17,260,000 after buying an additional 115,333 shares in the last quarter. Jane Street Group LLC purchased a new stake in S&T Bancorp during the first quarter worth $4,211,000. Qube Research & Technologies Ltd boosted its holdings in S&T Bancorp by 58.0% during the third quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock worth $8,820,000 after buying an additional 86,125 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in S&T Bancorp during the fourth quarter worth $3,052,000. Finally, State Street Corp boosted its holdings in 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 buying an additional 61,800 shares in the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

About S&T Bancorp

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.