Stock Yards Bancorp Inc (SYBT) to Issue Quarterly Dividend of $0.26 on October 1st
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.
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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