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.
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.
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