S & T Bancorp Inc Stock Price, News & Analysis

S&T Bancorp, Inc. (STBA) will host a conference call on April 21, 2022, at 1:00 p.m. ET to discuss its first quarter 2022 earnings, which will be released before the market opens on the same day. The call will feature CEO Christopher J. McComish, President David G. Antolik, and CFO Mark Kochvar, with public access available via S&T Bank's Investor Relations webpage. Following the live call, a replay will be available until April 28, 2022. S&T Bancorp is a $9.5 billion bank holding company based in Indiana, Pennsylvania, operating in five markets.

S&T Bancorp, Inc. (NASDAQ: STBA) announced that Robert E. Kane will not seek re-election to the board, ending his term on May 16, 2022. Kane served since 2017 and was a significant member of various committees, contributing to the bank's strategic direction. Christine Toretti, board chair, commended his impact, while CEO Chris McComish acknowledged his leadership. S&T Bancorp, a $9.5 billion holding company, operates in five markets including Pennsylvania and Ohio, with a commitment to future growth.

S&T Bancorp has authorized an extension of its $50 million share repurchase plan, now effective through March 31, 2023. The plan allows for the repurchase of up to $37.4 million worth of shares remaining, which can occur through various means including open market transactions. This initiative aims to enhance shareholder value by potentially increasing earnings per share (EPS) through reduced outstanding shares. Repurchases will be funded from cash on hand and internally generated funds.

S&T Bancorp (STBA) announced its fourth quarter and full year 2021 earnings, reporting a net income of $22.5 million, or $0.57 per diluted share, down from $27.6 million in Q3 2021. For the year, net income reached a record $110.3 million, or $2.81 per diluted share, compared to $21.0 million in 2020. The fourth quarter saw a 7.2% annualized increase in total portfolio loans, with strong growth in commercial and consumer loans. The board declared a $0.29 per share dividend, up from $0.28 last year.

The Board of Directors of S&T Bancorp has announced a cash dividend of $0.29 per share, marking a 3.6% increase from last year's $0.28. The annualized yield based on the January 24, 2022 closing price of $32.74 is 3.5%. This dividend will be paid on February 24, 2022 to shareholders on record by February 10, 2022. S&T Bancorp, headquartered in Indiana, Pennsylvania, operates across several markets and is valued at $9.4 billion.

On January 24, 2022, S&T Bank announced key promotions of three executives to enhance its growth. Steve Drahnak was elevated to Chief Commercial Banking Officer, overseeing all commercial banking efforts. Heidi Williams became Senior Vice President and Community Market Executive, managing commercial real estate collaboration. Jonathan Kowalski was promoted to Senior Vice President and Metro Market Executive, leading commercial and industrial banking teams. These promotions reflect the bank's commitment to excellence and aim to strengthen customer service and employee development.

S&T Bancorp, Inc. (NASDAQ: STBA) will host a conference call to discuss its fourth quarter and full year 2021 earnings on January 27, 2022, at 1:00 p.m. ET. The earnings release will be available before the market opens on the same day. Key executives, including CEO Christopher J. McComish, will lead the call. Investors can access the call via S&T Bank's Investor Relations page. A replay will be available until February 3, 2022. S&T Bancorp is a $9.4 billion holding company headquartered in Pennsylvania, operating primarily in five markets across the Northeastern U.S.

S&T Bank will increase its base pay rate to $15 per hour starting January 2022. This decision aims to enhance workforce development and create job opportunities within the communities it serves. Approximately 43% of its workforce, or 501 employees, will benefit from this adjustment. The bank emphasizes its commitment to providing not just jobs, but careers through extensive compensation packages, including benefits and educational opportunities. S&T Bancorp, trading under the symbol STBA, is a $9.4 billion holding company based in Indiana, Pennsylvania.

S&T Bancorp, Inc. (NASDAQ: STBA) reported a net income of $27.6 million, or $0.70 per diluted share for Q3 2021, a slight decrease from $28.4 million in Q2 2021. Key highlights include a 7.0% annualized loan growth and a quarterly cash dividend increase to $0.29 per share. The bank saw an increase in noninterest income to $15.8 million, while noninterest expenses rose to $47.2 million. Overall asset quality showed challenges with an increase in nonperforming assets to 1.78%. The conference call for Q3 results is scheduled for October 21, 2021.