S & T Bancorp Inc Stock Price, News & Analysis

On April 26, 2023, S&T Bancorp (NASDAQ: STBA) announced a cash dividend of $0.32 per share, marking a 6.7% increase from the prior year's dividend of $0.30. This dividend is based on the closing price of $26.62 on April 25, 2023, yielding 4.8% annually. The dividend is payable on May 25, 2023 to shareholders recorded as of May 11, 2023.

S&T Bancorp, a $9.2 billion bank holding company headquartered in Indiana, Pennsylvania, operates primarily through its subsidiary, S&T Bank, which has been recognized by Forbes as a 2022 Best-in-State Bank.

S&T Bancorp reported net income of $39.8 million for Q1 2023, down from $40.3 million in Q4 2022. Earnings per diluted share were $1.02, reflecting solid return metrics with a return on average assets (ROA) of 1.77% and a return on average equity (ROE) of 13.38%. Total portfolio loans increased by $67.1 million (3.8% annualized), while deposits decreased by $66.9 million (3.8% annualized). Net interest income was $88.8 million, a slight decrease due to higher funding costs. Noninterest income fell by $2.4 million, mainly due to a decline in other income. Total assets grew to $9.2 billion, with a stable capital position, maintaining all regulatory capital ratios above required thresholds.

S&T Bancorp, Inc. (NASDAQ: STBA) announced it will release its first quarter 2023 earnings before the market opens on April 20, 2023. A conference call to discuss the earnings will occur live at 1:00 p.m. ET on the same day, featuring key executives including CEO Christopher J. McComish, President David G. Antolik, and CFO Mark Kochvar. Investors can access the conference call via S&T Bancorp's Investor Relations webpage. Following the live presentation, the webcast will be archived for 12 months.

S&T Bancorp is a $9.1 billion holding company headquartered in Indiana, Pennsylvania, and operates primarily through S&T Bank.

S&T Bank (NASDAQ: STBA) has announced the elimination of non-sufficient funds (NSF) fees for consumer and business deposit account customers, effective April 3, 2023. Additionally, the bank is introducing the S&T $10 Cushion™, which waives overdraft fees for accounts overdrawn by $10 or less. S&T Bank will also eliminate various fees associated with ACH return items, deposited return items, and transferring funds to cover overdrawn accounts. These changes reflect the bank's commitment to enhancing customer financial wellness and building trust in financial relationships.

S&T Bancorp (NASDAQ: STBA) reported record net income of $40.3 million ($1.03 per diluted share) for Q4 2022, up from $37.2 million ($0.95 per diluted share) in Q3 2022 and significantly higher than $22.5 million ($0.57 per diluted share) in Q4 2021. Full year 2022 net income reached $135.5 million ($3.46 per diluted share), compared to $110.3 million ($2.81 per diluted share) in 2021. Key metrics included a ROA of 1.78%, ROE of 13.68%, and a NIM (FTE) of 4.33%. Nonperforming assets decreased by 23.2% in Q4 2022. A quarterly dividend of $0.32 was approved, marking a 10.3% increase year-over-year.

S&T Bancorp, Inc. has extended its $50 million share repurchase plan until March 31, 2024. As of the announcement on January 25, 2023, the plan has $29.8 million remaining for repurchase. The company intends to buy back shares via open market and privately negotiated transactions, with discretion over timing and volume based on market conditions and financial performance. Repurchases will be funded from cash on hand and internally generated funds, emphasizing the company's commitment to enhancing shareholder value.

S&T Bancorp, Inc. (NASDAQ: STBA) announced a quarterly cash dividend of $0.32 per share, marking a 10.3% increase from last year's $0.29. The dividend, yielding 4.0% based on the January 24, 2023 closing price of $32.37, is set for payment on February 23, 2023 to shareholders recorded by February 10, 2023. This reflects the company's commitment to returning value to shareholders amid maintaining a strong financial position.