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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) declared a quarterly dividend on Wednesday, May 20th. Stockholders of record on Monday, June 15th will be given 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 dividend 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 increased its dividend annually for the last 15 consecutive years. Stock Yards Bancorp has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 1.2%

Shares of NASDAQ SYBT traded up $0.81 during midday trading on Wednesday, reaching $71.02. 180,275 shares of the company’s stock traded hands, compared to its average volume of 157,159. 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 $68.35 and its 200-day simple moving average is $67.60. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $83.83. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 14.61 and a beta of 0.70.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The firm had revenue of $102.63 million for the quarter, compared to the consensus estimate of $108.18 million. On average, analysts predict that Stock Yards Bancorp will post 5.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in SYBT. Stock Yards Bank & Trust Co. lifted its stake in shares of Stock Yards Bancorp by 37.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after buying an additional 366,475 shares during the period. Marshall Wace LLP lifted its stake in shares of Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after buying an additional 155,512 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of Stock Yards Bancorp during the fourth quarter worth $7,461,000. Millennium Management LLC lifted its stake in shares of Stock Yards Bancorp by 211.2% during the fourth quarter. Millennium Management LLC now owns 131,842 shares of the bank’s stock worth $8,563,000 after buying an additional 89,470 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Stock Yards Bancorp by 146.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock worth $7,376,000 after buying an additional 67,440 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

About Stock Yards Bancorp

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.