S & T Bancorp Inc (NASDAQ:STBA) declared a quarterly dividend on Wednesday, October 17th, Wall Street Journal reports. Investors of record on Thursday, November 1st will be paid a dividend of 0.27 per share by the financial services provider on Thursday, November 15th. This represents a $1.08 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, October 31st. This is a positive change from S & T Bancorp’s previous quarterly dividend of $0.25.
S & T Bancorp has raised its dividend by an average of 6.4% per year over the last three years and has increased its dividend every year for the last 5 years. S & T Bancorp has a payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. 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%.
NASDAQ:STBA opened at $41.03 on Thursday. S & T Bancorp has a 12 month low of $37.79 and a 12 month high of $47.77. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 16.55 and a beta of 0.61.
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 value of $232,200.00. Following the completion of the sale, the director now directly owns 39,948 shares in the company, valued at $1,855,185.12. The transaction was disclosed in a document filed 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 shares were sold at an average price of $45.58, for a total value of $27,348.00. Following the completion of the sale, the director now owns 24,387 shares of the company’s stock, valued at $1,111,559.46. The disclosure for this sale can be found here. 2.53% of the stock is currently owned by insiders.
Several research firms have commented on STBA. BidaskClub upgraded S & T Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. DA Davidson began coverage on S & T Bancorp in a research note on Thursday, August 23rd. They set a “buy” rating and a $54.00 price objective for the company. Finally, Zacks Investment Research upgraded S & T Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.13.
About S & T Bancorp
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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