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

S&T Bancorp, Inc. (NASDAQ:STBA) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Thursday, February 13th will be given a dividend of 0.34 per share by the financial services provider on Thursday, February 27th. This represents a $1.36 annualized dividend and a yield of 3.58%.

S&T Bancorp has raised its dividend by an average of 5.6% per year over the last three years and has raised its dividend every year for the last 13 years. S&T Bancorp has a dividend payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect S&T Bancorp to earn $3.02 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 45.0%.

S&T Bancorp Trading Down 0.3 %

Shares of STBA opened at $38.04 on Thursday. S&T Bancorp has a 1-year low of $28.83 and a 1-year high of $45.79. The firm’s 50-day moving average price is $39.72 and its 200-day moving average price is $40.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 10.84 and a beta of 0.84.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

Insider Transactions at S&T Bancorp

In other news, Director Frank J. Palermo, Jr. sold 4,982 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $43.21, for a total transaction of $215,272.22. Following the sale, the director now owns 23,143 shares of the company’s stock, valued at $1,000,009.03. This trade represents a 17.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.38% 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.