Stock Yards Bancorp, Inc. (NASDAQ:SYBT) to Issue Quarterly Dividend of $0.30

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) declared a quarterly dividend on Tuesday, May 21st, RTT News reports. Investors of record on Monday, June 17th will be paid a dividend of 0.30 per share by the bank on Monday, July 1st. This represents a $1.20 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, June 17th.

Stock Yards Bancorp has increased its dividend payment by an average of 3.0% annually over the last three years and has increased its dividend every year for the last 14 years. Stock Yards Bancorp has a payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Stock Yards Bancorp to earn $3.59 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 33.4%.

Stock Yards Bancorp Stock Down 1.6 %

Shares of NASDAQ SYBT opened at $47.46 on Friday. The firm’s 50-day simple moving average is $46.36 and its 200 day simple moving average is $47.38. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 13.33 and a beta of 0.84. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a 12-month low of $36.93 and a 12-month high of $53.15.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 24th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.51%. The company had revenue of $83.44 million for the quarter, compared to the consensus estimate of $83.00 million. On average, research analysts expect that Stock Yards Bancorp will post 3.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Hovde Group assumed coverage on shares of Stock Yards Bancorp in a research report on Monday, March 4th. They set an “outperform” rating on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 target price (up from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday, April 25th. Finally, Piper Sandler started coverage on Stock Yards Bancorp in a research note on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Stock Yards Bancorp currently has an average rating of “Hold” and an average target price of $50.00.

Insider Buying and Selling

In related news, Director David P. Heintzman sold 3,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $47.05, for a total transaction of $141,150.00. Following the completion of the sale, the director now directly owns 113,070 shares of the company’s stock, valued at approximately $5,319,943.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.90% of the stock is owned by company insiders.

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.