Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Increases Dividend to $0.32 Per Share

Key Points

• Stock Yards Bancorp, Inc. has declared a quarterly dividend of $0.32 per share, set to be paid on October 1st to shareholders recorded by September 15th, reflecting a 3.2% increase from the previous quarter's dividend.
• The bank boasts a dividend payout ratio of 27.9%, indicating strong earnings coverage for its dividend payments, with analysts forecasting earnings of $4.48 per share next year.
• Stock Yards Bancorp shares are currently rated as a Hold by several brokerages, with a consensus target price of $79.75, showing an overall stable outlook despite recent fluctuations in stock price.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Shareholders of record on Monday, September 15th will be paid a dividend of 0.32 per share by the bank on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, September 15th. This is a 3.2% increase from Stock Yards Bancorp's previous quarterly dividend of $0.31.

Stock Yards Bancorp has a payout ratio of 27.9% meaning its dividend is sufficiently covered by earnings. 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 Performance

NASDAQ:SYBT traded down $0.2150 on Monday, reaching $81.3350. 25,608 shares of the company's stock were exchanged, compared to its average volume of 122,131. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 18.70 and a beta of 0.74. Stock Yards Bancorp has a 52 week low of $56.35 and a 52 week high of $83.67. The stock has a fifty day simple moving average of $77.35 and a 200-day simple moving average of $73.76.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.10. The firm had revenue of $97.91 million during the quarter, compared to analyst estimates of $95.32 million. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. As a group, sell-side analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current year.

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.