Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Announces $0.31 Quarterly Dividend

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Investors of record on Monday, March 17th will be given a dividend of 0.31 per share by the bank on Tuesday, April 1st. This represents a $1.24 dividend on an annualized basis and a yield of 1.64%.

Stock Yards Bancorp has raised its dividend payment by an average of 3.5% annually 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 27.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Stock Yards Bancorp to earn $4.48 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 27.7%.

Stock Yards Bancorp Trading Up 0.1 %

Stock Yards Bancorp stock opened at $75.43 on Thursday. The stock has a market cap of $2.22 billion, a PE ratio of 19.39 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $73.45 and a 200 day moving average price of $67.92. Stock Yards Bancorp has a 52 week low of $42.35 and a 52 week high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period in the prior year, the company earned $0.82 earnings per share. Equities research analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Piper Sandler lifted their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $78.10, for a total transaction of $273,350.00. Following the completion of the transaction, the director now directly owns 21,411 shares of the company’s stock, valued at $1,672,199.10. The trade was a 14.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Philip Poindexter sold 3,419 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the completion of the transaction, the president now directly owns 51,331 shares of the company’s stock, valued at $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,964 shares of company stock valued at $535,110 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.