Stock Yards Bancorp Inc (NASDAQ:SYBT) declared a quarterly dividend on Wednesday, August 19th, Zacks reports. Shareholders of record on Monday, September 21st will be given a dividend of 0.27 per share by the bank on Thursday, October 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 18th.
Stock Yards Bancorp has raised its dividend by 45.1% over the last three years and has increased its dividend annually for the last 8 consecutive years. Stock Yards Bancorp has a payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Stock Yards Bancorp to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 50.7%.
NASDAQ SYBT opened at $39.93 on Wednesday. The stock has a market capitalization of $905.69 million, a P/E ratio of 14.96 and a beta of 0.79. Stock Yards Bancorp has a 1 year low of $22.98 and a 1 year high of $44.73. The business’s fifty day moving average is $42.11 and its two-hundred day moving average is $35.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.97 and a current ratio of 0.97.
Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.12. Stock Yards Bancorp had a return on equity of 14.82% and a net margin of 30.12%. The company had revenue of $46.15 million for the quarter, compared to analysts’ expectations of $46.60 million. On average, research analysts forecast that Stock Yards Bancorp will post 2.56 earnings per share for the current year.
In related news, Director Carl G. Herde sold 750 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $42.68, for a total value of $32,010.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William Dishman sold 1,874 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $42.90, for a total transaction of $80,394.60. Insiders sold 20,115 shares of company stock valued at $824,529 over the last quarter. 6.56% of the stock is currently owned by corporate insiders.
Several brokerages have issued reports on SYBT. TheStreet raised shares of Stock Yards Bancorp from a “c+” rating to a “b” rating in a research note on Thursday, June 18th. Raymond James upped their price target on shares of Stock Yards Bancorp from $42.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. ValuEngine raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 28th. BidaskClub raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Zacks Investment Research downgraded shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $45.00.
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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