Stock Yards Bancorp, Inc. (SYBT) to Issue Quarterly Dividend of $0.31 on April 1st

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) announced a quarterly dividend on Tuesday, February 18th, RTT News reports. Investors of record on Monday, March 17th will be paid a dividend of 0.31 per share by the bank on Tuesday, April 1st. This represents a $1.24 annualized dividend and a yield of 1.66%. The ex-dividend date is Monday, March 17th.

Stock Yards Bancorp has increased its dividend by an average of 3.5% per year over the last three years and has raised its dividend every year for the last 15 years. Stock Yards Bancorp has a payout ratio of 27.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NASDAQ:SYBT traded down $0.63 during trading hours on Thursday, reaching $74.80. 77,427 shares of the company’s stock were exchanged, compared to its average volume of 138,704. The company has a market capitalization of $2.20 billion, a P/E ratio of 19.23 and a beta of 0.86. Stock Yards Bancorp has a 12 month low of $42.35 and a 12 month high of $79.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The business’s 50-day simple moving average is $73.45 and its two-hundred day simple moving average is $67.92.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same period in the prior year, the firm posted $0.82 EPS. Sell-side analysts expect that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Insider Activity at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $78.10, for a total transaction of $273,350.00. Following the transaction, the director now directly owns 21,411 shares of the company’s stock, valued at approximately $1,672,199.10. This trade represents a 14.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Philip Poindexter sold 3,419 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the transaction, the president now owns 51,331 shares in the company, valued at approximately $3,878,057.05. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,964 shares of company stock valued at $535,110. 3.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on SYBT shares. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Piper Sandler raised their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th.

Stock Yards Bancorp Company Profile

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.