Stock Yards Bancorp Inc (NASDAQ:SYBT) announced a quarterly dividend on Wednesday, August 21st, Zacks reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.26 per share by the bank on Tuesday, October 1st. This represents a $1.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, September 13th.
Stock Yards Bancorp has raised its dividend by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Stock Yards Bancorp has a payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Stock Yards Bancorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 39.2%.
Shares of NASDAQ SYBT opened at $37.99 on Thursday. Stock Yards Bancorp has a 1-year low of $28.02 and a 1-year high of $38.99. The business has a 50-day moving average of $36.56 and a 200-day moving average of $35.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $840.76 million, a price-to-earnings ratio of 15.70 and a beta of 0.49.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 24th. The bank reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.11. Stock Yards Bancorp had a return on equity of 16.33% and a net margin of 32.58%. The company had revenue of $43.04 million during the quarter, compared to the consensus estimate of $42.35 million. Research analysts expect that Stock Yards Bancorp will post 2.72 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on SYBT shares. Zacks Investment Research raised Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Saturday, August 17th. BidaskClub downgraded Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 24th. Finally, ValuEngine raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 29th.
In related news, insider Kathy C. Thompson sold 2,609 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $34.51, for a total value of $90,036.59. Following the completion of the transaction, the insider now owns 38,448 shares of the company’s stock, valued at $1,326,840.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James A. Hillebrand sold 2,450 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $37.15, for a total value of $91,017.50. Following the completion of the transaction, the chief executive officer now directly owns 77,686 shares of the company’s stock, valued at approximately $2,886,034.90. The disclosure for this sale can be found here. In the last three months, insiders purchased 359 shares of company stock valued at $12,600 and sold 19,859 shares valued at $709,270. Corporate insiders own 8.30% of the company’s stock.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, money market deposits, and time deposits.
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