Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Announces $0.30 Quarterly Dividend

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) announced a quarterly dividend on Wednesday, May 22nd, RTT News reports. Investors of record on Monday, June 17th will be given a dividend of 0.30 per share by the bank on Monday, July 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%.

Stock Yards Bancorp has increased its dividend payment by an average of 3.0% per year over the last three years and has raised its dividend every year for the last 14 years. Stock Yards Bancorp has a dividend payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

NASDAQ SYBT traded down $1.22 on Wednesday, hitting $47.67. 73,599 shares of the stock traded hands, compared to its average volume of 75,645. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The business's fifty day moving average is $46.20 and its two-hundred day moving average is $47.25. Stock Yards Bancorp has a 12 month low of $36.93 and a 12 month high of $53.15. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.39 and a beta of 0.83.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. Stock Yards Bancorp had a return on equity of 12.51% and a net margin of 22.86%. The firm had revenue of $83.44 million for the quarter, compared to analysts' expectations of $83.00 million. As a group, equities analysts anticipate that Stock Yards Bancorp will post 3.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SYBT shares. Piper Sandler initiated coverage on shares of Stock Yards Bancorp in a research note on Wednesday, March 6th. They issued a "neutral" rating and a $52.00 target price for the company. Hovde Group began coverage on shares of Stock Yards Bancorp in a report on Monday, March 4th. They issued an "outperform" rating for the company. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $54.00 price target (up previously from $53.00) on shares of Stock Yards Bancorp in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Stock Yards Bancorp has an average rating of "Hold" and a consensus price target of $50.00.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,000 shares of the business's stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $47.05, for a total value of $141,150.00. Following the completion of the transaction, the director now owns 113,070 shares of the company's stock, valued at approximately $5,319,943.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is currently owned by 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.