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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.31 per share by the bank on Tuesday, April 1st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.64%.

Stock Yards Bancorp has raised its dividend by an average of 3.5% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Stock Yards Bancorp has a payout ratio of 27.6% 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 Trading Up 0.2 %

NASDAQ SYBT opened at $75.39 on Wednesday. The business’s 50-day moving average price is $73.54 and its two-hundred day moving average price is $67.74. Stock Yards Bancorp has a 12 month low of $42.35 and a 12 month high of $79.79. The firm has a market capitalization of $2.22 billion, a PE ratio of 19.38 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period last year, the firm posted $0.82 EPS. On average, analysts expect that Stock Yards Bancorp will post 4.16 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Stock Yards Bancorp news, EVP Michael Rehm sold 2,650 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $74.81, for a total value of $198,246.50. Following the transaction, the executive vice president now owns 16,927 shares in the company, valued at approximately $1,266,308.87. This represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Philip Poindexter sold 3,419 shares of the 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 completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,614 shares of company stock worth $733,356. Corporate insiders own 3.90% of the company’s stock.

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.