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The latest update is out from S&T Bancorp ( (STBA) ).
S&T Bancorp reported its financial results for the fourth quarter and full year 2024. In the fourth quarter of 2024, the company achieved a net income of $33.1 million, slightly higher than the third quarter, but lower than the previous year. Asset quality improved significantly with a reduction in nonperforming assets and net recoveries, while total deposits and portfolio loans increased. For the full year 2024, net income was $131.3 million, a decrease from 2023, attributed to higher funding costs despite a rise in interest income. The board declared a cash dividend increase, reflecting a 3.03% hike from the previous year.
More about S&T Bancorp
S&T Bancorp, Inc., the holding company for S&T Bank, operates in the financial services industry offering a range of banking products and services. The company is focused on enhancing customer deposit franchise and improving asset quality, maintaining a strong regulatory capital position.
YTD Price Performance: 2.29%
Average Trading Volume: 166,414
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.46B
For an in-depth examination of STBA stock, go to TipRanks’ Stock Analysis page.
