Stock Yards Bancorp, Inc. Plans Quarterly Dividend of $0.32 (NASDAQ:SYBT)

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) declared a quarterly dividend on Tuesday, May 19th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.32 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 15th.

Stock Yards Bancorp has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Stock Yards Bancorp has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Stock Yards Bancorp to earn $5.51 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 23.2%.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $71.02 on Thursday. The firm has a market capitalization of $2.10 billion, a P/E ratio of 14.61 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $68.48 and its two-hundred day simple moving average is $67.64. Stock Yards Bancorp has a twelve month low of $61.51 and a twelve month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The business had revenue of $102.63 million for the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. As a group, equities analysts anticipate that Stock Yards Bancorp will post 5.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SYBT shares. Piper Sandler reiterated a “neutral” rating and set a $78.00 price objective (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. Keefe, Bruyette & Woods increased their price objective on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Stephens increased their price objective on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday. Finally, Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.00.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.