S & T Bancorp Inc Stock Price, News & Analysis

S&T Bancorp, Inc. (NASDAQ: STBA) reported a record net income of $31.9 million, or $0.81 per diluted share for Q1 2021, up from $24.2 million in Q4 2020 and $13.2 million in Q1 2020. The bank's return on average assets reached 1.42%, with a net interest margin of 3.47%. Deposits surged by $455.5 million to $7.9 billion, while portfolio loans fell by $42.7 million to $7.2 billion. A consistent cash dividend of $0.28 per share was declared, in line with the previous year.

The Board of Directors of S&T Bancorp (NASDAQ: STBA) declared a cash dividend of $0.28 per share during a meeting on April 19, 2021. This maintains the same dividend amount as the previous year. Based on the $32.82 closing price on April 19, the annualized yield stands at 3.4%. The dividend will be payable on May 20, 2021 to shareholders of record by May 6, 2021.

S&T Bancorp, Inc. (NASDAQ: STBA) announced a conference call to discuss its first quarter 2021 earnings on April 22, 2021, at 1:00 p.m. ET. The earnings release will be available prior to market opening on the same day. The conference call will be led by interim CEO David G. Antolik and CFO Mark Kochvar and is open to the public via S&T Bank’s Investor Relations webpage. Participants can submit questions via email before and during the call. A replay will be available until April 29, 2021. For more details, visit S&T’s official website.

The Board of Directors of S&T Bancorp has extended its $50 million share repurchase plan, initially set to expire on March 31, 2021, through to March 31, 2022. Currently, $37.4 million remains available for repurchase. The plan allows S&T to buy back shares at its discretion, depending on market conditions and financial performance. Funding for the repurchase will come from cash on hand and internally generated funds. The plan does not mandate a specific number of shares to be repurchased.

S&T Bancorp, Inc. (STBA) reported its fourth quarter 2020 earnings with a net income of $24.2 million, or $0.62 per diluted share, up from $16.7 million in Q3 2020. However, full year net income dropped to $21.0 million from $98.2 million in 2019 due to a significant fraud loss of $58.7 million. Portfolio loans decreased by $169.0 million, and deposits fell by $213.3 million compared to September 30, 2020. Despite challenges, the company declared a consistent dividend of $0.28 per share. ROA stood at 0.23% and ROE at 1.80% for 2020, impacted by the pandemic and merger-related expenses.

The Board of Directors of S&T Bancorp declared a $0.28 per share cash dividend, consistent with the previous year's distribution. This dividend offers an annualized yield of 4.0% based on the January 25, 2021 closing price of $28.01. The dividend is payable on February 25, 2021 to shareholders of record as of February 11, 2021, indicating a stable return for investors.

S&T Bancorp, a $9.2 billion bank holding company, operates primarily within Pennsylvania and surrounding regions.

S&T Bancorp, Inc. (NASDAQ: STBA) will release its fourth quarter 2020 earnings on January 28, 2021, before market opening. A conference call led by CEO Todd D. Brice, President David G. Antolik, and CFO Mark Kochvar, will take place at 1:00 p.m. ET. Participants can access the call via S&T Bank's Investor Relations webpage. The call will focus on financial performance and future outlook, with a recording available for 90 days post-event. The company is a $9.2 billion bank holding entity operating in multiple markets, recognized for its customer service.

S&T Bank announced the retirement of Upstate New York Market President Patrick Tobin, effective December 31, 2020. The bank will close its Rochester loan office and consolidate operations to its Buffalo location. With assets of $9.2 billion, S&T Bank operates in five markets. Tobin, who joined in 2015, will be succeeded by Joe Brennan. The transition aims to ensure seamless service continuity for clients. S&T Bancorp was recently ranked #1 in customer satisfaction for retail banking in the Mid-Atlantic by J.D. Power.

S&T Bank has appointed Jason Forman as executive vice president and director of consumer banking, aiming to enhance growth and transformation in retail banking and related services. With $9.2 billion in assets, S&T Bank operates in five markets across Pennsylvania and Ohio. Forman, previously at Huntington Bank, will focus on innovation and operational excellence to boost the bank's consumer business. The bank was recently ranked #1 in customer satisfaction in the Mid-Atlantic by J.D. Power.