S & T Bancorp Inc (STBA) Plans Dividend Increase – $0.27 Per Share
S & T Bancorp Inc (NASDAQ:STBA) declared a quarterly dividend on Wednesday, October 17th, Wall Street Journal reports. Shareholders of record on Thursday, November 1st will be given a dividend of 0.27 per share by the financial services provider on Thursday, November 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, October 31st. This is a boost from S & T Bancorp’s previous quarterly dividend of $0.25.
S & T Bancorp has increased its dividend payment by an average of 6.4% annually over the last three years and has increased its dividend every year for the last 5 years. S & T Bancorp has a dividend payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect S & T Bancorp to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 31.7%.
Shares of S & T Bancorp stock traded up $0.05 on Wednesday, reaching $40.91. 5,196 shares of the company’s stock were exchanged, compared to its average volume of 93,523. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.55 and a beta of 0.61. S & T Bancorp has a 52 week low of $37.79 and a 52 week high of $47.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97.
In other news, Director James C. Miller sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $46.44, for a total transaction of $232,200.00. Following the transaction, the director now directly owns 39,948 shares of the company’s stock, valued at $1,855,185.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank W. Jones sold 600 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $45.58, for a total value of $27,348.00. Following the transaction, the director now directly owns 24,387 shares in the company, valued at $1,111,559.46. The disclosure for this sale can be found here. 2.53% of the stock is owned by corporate insiders.
A number of equities analysts have issued reports on the company. BidaskClub upgraded S & T Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Zacks Investment Research raised S & T Bancorp from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, August 7th. Finally, DA Davidson began coverage on S & T Bancorp in a research report on Thursday, August 23rd. They set a “buy” rating and a $54.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. S & T Bancorp currently has a consensus rating of “Hold” and an average price target of $47.13.
S & T Bancorp Company Profile
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 accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.
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