Stock Yards Bancorp, Inc. (NASDAQ:SYBT) to Issue $0.31 Quarterly Dividend

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) declared a quarterly dividend on Tuesday, February 18th, RTT News reports. Investors 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 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, March 17th.

Stock Yards Bancorp has raised its dividend by an average of 3.5% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Stock Yards Bancorp has a dividend payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. 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 Down 2.5 %

Stock Yards Bancorp stock traded down $1.85 during mid-day trading on Friday, hitting $72.95. The stock had a trading volume of 82,217 shares, compared to its average volume of 136,624. Stock Yards Bancorp has a 12 month low of $42.35 and a 12 month high of $79.79. The stock has a 50-day simple moving average of $73.40 and a two-hundred day simple moving average of $67.96. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $2.15 billion, a PE ratio of 18.75 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 business earned $0.82 EPS. As a group, sell-side analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current year.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,500 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.10, for a total value of $273,350.00. Following the completion of the transaction, the director now directly owns 21,411 shares in the company, valued at $1,672,199.10. This trade represents a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYBT. Stephens lowered Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Hovde Group lowered Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Finally, Piper Sandler lifted 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.

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.