Stock Yards Bancorp Inc (NASDAQ:SYBT) Increases Dividend to $0.26 Per Share

Stock Yards Bancorp Inc (NASDAQ:SYBT) announced a quarterly dividend on Wednesday, May 22nd, RTT News reports. Investors of record on Monday, June 17th will be given a dividend of 0.26 per share by the bank on Monday, July 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.25.

Stock Yards Bancorp has raised its dividend payment by an average of 14.5% annually over the last three years and has increased its dividend every year for the last 7 years. Stock Yards Bancorp has a payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Stock Yards Bancorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 39.2%.

Shares of Stock Yards Bancorp stock traded up $0.11 on Monday, reaching $36.26. 50,039 shares of the company traded hands, compared to its average volume of 45,101. Stock Yards Bancorp has a 52 week low of $28.02 and a 52 week high of $39.55. The business has a 50 day moving average of $34.53. The stock has a market cap of $824.94 million, a price-to-earnings ratio of 14.98 and a beta of 0.48. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.09. The company had revenue of $40.72 million during the quarter, compared to the consensus estimate of $41.10 million. Stock Yards Bancorp had a net margin of 31.99% and a return on equity of 16.01%. Equities research analysts predict that Stock Yards Bancorp will post 2.57 EPS for the current year.

In other news, Chairman David P. Heintzman sold 4,322 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $34.71, for a total transaction of $150,016.62. Following the completion of the transaction, the chairman now directly owns 150,962 shares of the company’s stock, valued at $5,239,891.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathy C. Thompson sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $34.04, for a total transaction of $51,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 342 shares of company stock valued at $11,813 and sold 21,917 shares valued at $765,578. 8.30% of the stock is currently owned by insiders.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. BidaskClub raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, ValuEngine raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, money market deposits, and time deposits.

Read More: Book Value Per Share – BVPS

Dividend History for Stock Yards Bancorp (NASDAQ:SYBT)

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