S&T Bancorp, Inc. (NASDAQ:STBA) to Issue Dividend Increase – $0.34 Per Share

S&T Bancorp, Inc. (NASDAQ:STBA) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Investors of record on Thursday, November 7th will be given a dividend of 0.34 per share by the financial services provider on Thursday, November 21st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.33.

S&T Bancorp has increased its dividend by an average of 4.8% per year over the last three years and has raised its dividend every year for the last 11 years. S&T Bancorp has a payout ratio of 44.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect S&T Bancorp to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 43.6%.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA opened at $38.51 on Friday. S&T Bancorp has a 1 year low of $24.51 and a 1 year high of $45.79. The firm has a market cap of $1.47 billion, a P/E ratio of 10.97 and a beta of 0.79. The stock has a fifty day moving average price of $41.26 and a two-hundred day moving average price of $36.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.99 and a current ratio of 0.99.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com raised S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. DA Davidson raised their price objective on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 19th.

S&T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.