S&T Bancorp, Inc. (NASDAQ:STBA) Declares Quarterly Dividend of $0.37

S&T Bancorp, Inc. (NASDAQ:STBA) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.37 per share by the financial services provider on Friday, November 27th. This represents a $1.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 12th.

S&T Bancorp has a payout ratio of 43.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect S&T Bancorp to earn $4.09 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 36.2%.

S&T Bancorp Trading Down 0.2%

Shares of STBA stock opened at $50.48 on Thursday. The firm’s 50-day simple moving average is $49.55 and its 200-day simple moving average is $46.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.99 and a quick ratio of 0.99. S&T Bancorp has a 1-year low of $35.68 and a 1-year high of $53.50. The firm has a market cap of $1.78 billion, a P/E ratio of 12.81 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, October 22nd. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. S&T Bancorp had a net margin of 25.10% and a return on equity of 10.11%. The firm had revenue of $107.79 million during the quarter, compared to the consensus estimate of $106.72 million. As a group, equities analysts forecast that S&T Bancorp will post 4.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. DA Davidson boosted their price target on S&T Bancorp from $47.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research note on Thursday, October 22nd. Raymond James Financial started coverage on S&T Bancorp in a research note on Thursday, October 1st. They set a “market perform” rating for the company. Piper Sandler boosted their price objective on S&T Bancorp from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Monday. Finally, Hovde Group restated a “market perform” rating and set a $54.00 price objective (up from $47.00) on shares of S&T Bancorp in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, S&T Bancorp currently has an average rating of “Hold” and a consensus price target of $52.20.

S&T Bancorp Company Profile

S&T Bancorp, Inc is the financial holding company for S&T Bank, a community bank headquartered in Indiana, Pennsylvania. Founded in 1902, S&T Bank serves consumers, businesses, and institutions through a network of banking offices and digital channels.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing, and business loans. It also offers treasury and cash-management services designed to support business customers.

S&T Bank serves communities primarily across western Pennsylvania and eastern Ohio.