Stock Yards Bancorp Inc (NASDAQ:SYBT) declared a quarterly dividend on Wednesday, August 21st, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.26 per share by the bank on Tuesday, October 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, September 13th.

Stock Yards Bancorp has raised its dividend payment by an average of 14.5% annually over the last three years and has raised its dividend every year for the last 7 years. Stock Yards Bancorp has a payout ratio of 43.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 SYBT opened at $37.38 on Wednesday. The company’s fifty day moving average is $36.51 and its 200 day moving average is $35.26. Stock Yards Bancorp has a fifty-two week low of $28.02 and a fifty-two week high of $38.99. The stock has a market capitalization of $840.76 million, a PE ratio of 14.01 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.98 and a current ratio of 0.98.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.11. Stock Yards Bancorp had a net margin of 32.58% and a return on equity of 16.33%. The business had revenue of $43.04 million during the quarter, compared to analyst estimates of $42.35 million. As a group, research analysts forecast that Stock Yards Bancorp will post 2.72 earnings per share for the current year.

SYBT has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Saturday, August 17th. BidaskClub downgraded shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 24th. Finally, ValuEngine upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 29th.

In other news, insider Kathy C. Thompson sold 4,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $36.12, for a total value of $151,704.00. Following the completion of the sale, the insider now owns 25,757 shares in the company, valued at approximately $930,342.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kathy C. Thompson sold 2,609 shares of Stock Yards Bancorp stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $34.51, for a total transaction of $90,036.59. Following the transaction, the insider now directly owns 38,448 shares of the company’s stock, valued at $1,326,840.48. The disclosure for this sale can be found here. In the last quarter, insiders bought 359 shares of company stock valued at $12,600 and sold 17,409 shares valued at $618,253. 8.30% of the stock is currently owned by insiders.

Stock Yards Bancorp Company Profile

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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Dividend History for Stock Yards Bancorp (NASDAQ:SYBT)

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