S&T Bancorp, Inc. (NASDAQ:STBA) to Issue $0.33 Quarterly Dividend

S&T Bancorp, Inc. (NASDAQ:STBA) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Thursday, May 9th will be paid a dividend of 0.33 per share by the financial services provider on Thursday, May 23rd. This represents a $1.32 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Wednesday, May 8th.

S&T Bancorp has raised its dividend by an average of 4.8% annually over the last three years and has raised its dividend every year for the last 3 years. S&T Bancorp has a dividend payout ratio of 44.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect S&T Bancorp to earn $2.96 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 44.6%.

S&T Bancorp Stock Performance

Shares of STBA opened at $31.55 on Monday. S&T Bancorp has a 1 year low of $24.51 and a 1 year high of $36.28. The stock has a market capitalization of $1.21 billion, a PE ratio of 8.94 and a beta of 0.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50-day simple moving average of $30.86 and a 200-day simple moving average of $30.71.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd.

About S&T Bancorp

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.