Stock Yards Bancorp Inc (NASDAQ:SYBT) declared a quarterly dividend on Wednesday, May 22nd, RTT News reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.26 per share by the bank on Monday, July 1st. This represents a $1.04 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.25.
Stock Yards Bancorp has increased its dividend payment by an average of 14.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Stock Yards Bancorp has a dividend payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Yards Bancorp stock traded up $0.11 during trading hours on Friday, hitting $34.78. The company’s stock had a trading volume of 35,903 shares, compared to its average volume of 43,060. Stock Yards Bancorp has a twelve month low of $28.02 and a twelve month high of $40.35. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13. The firm has a market cap of $788.75 million, a PE ratio of 14.37 and a beta of 0.44.
Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, April 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.09. Stock Yards Bancorp had a return on equity of 16.01% and a net margin of 31.99%. The firm had revenue of $40.72 million for the quarter, compared to analyst estimates of $41.10 million. As a group, equities analysts expect that Stock Yards Bancorp will post 2.57 earnings per share for the current year.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, February 15th. BidaskClub upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Finally, ValuEngine downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd.
In other Stock Yards Bancorp news, insider Kathy C. Thompson sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $34.04, for a total transaction of $51,060.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Dishman sold 2,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $34.35, for a total value of $68,700.00. Following the sale, the insider now directly owns 17,501 shares of the company’s stock, valued at $601,159.35. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 407 shares of company stock worth $13,738 and have sold 13,508 shares worth $472,426. Company insiders own 8.30% of the company’s stock.
Stock Yards Bancorp Company Profile
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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