Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Declares Quarterly Dividend of $0.31

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) announced a quarterly dividend on Wednesday, May 21st, RTT News reports. Shareholders of record on Monday, June 16th will be paid a dividend of 0.31 per share by the bank on Tuesday, July 1st. This represents a $1.24 dividend on an annualized basis and a yield of 1.65%.

Stock Yards Bancorp has increased its dividend payment by an average of 3.5% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Stock Yards Bancorp has a dividend payout ratio of 27.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Stock Yards Bancorp to earn $4.48 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 27.7%.

Stock Yards Bancorp Stock Down 1.4%

NASDAQ SYBT traded down $1.05 on Wednesday, reaching $75.17. 24,369 shares of the stock traded hands, compared to its average volume of 128,110. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The company has a fifty day moving average price of $70.59 and a 200-day moving average price of $72.46. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 19.30 and a beta of 0.73. Stock Yards Bancorp has a 12 month low of $44.36 and a 12 month high of $79.85.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The business had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. During the same period last year, the business posted $0.88 EPS. As a group, research analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stephens lifted their price target on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Piper Sandler set a $81.00 price target on Stock Yards Bancorp and gave the company a "neutral" rating in a report on Thursday, April 24th. StockNews.com downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods cut their price target on Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of "Hold" and an average price target of $77.25.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David P. Heintzman sold 1,581 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $74.00, for a total transaction of $116,994.00. Following the sale, the director now owns 82,070 shares in the company, valued at approximately $6,073,180. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura L. Wells sold 1,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the sale, the director now owns 18,954 shares in the company, valued at approximately $1,459,458. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock worth $449,427 in the last ninety days. 3.40% of the stock is owned by insiders.

Institutional Trading of Stock Yards Bancorp

Several large investors have recently added to or reduced their stakes in SYBT. AQR Capital Management LLC lifted its holdings in shares of Stock Yards Bancorp by 47.4% in the 1st quarter. AQR Capital Management LLC now owns 7,143 shares of the bank's stock valued at $493,000 after buying an additional 2,297 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Stock Yards Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank's stock worth $1,051,000 after purchasing an additional 658 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Stock Yards Bancorp by 28.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank's stock worth $3,636,000 after purchasing an additional 11,758 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Stock Yards Bancorp during the first quarter valued at approximately $3,400,000. Hedge funds and other institutional investors own 56.46% of the company's stock.

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.

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