Stock Yards Bancorp Inc (NASDAQ:SYBT) declared a quarterly dividend on Wednesday, August 19th, Zacks reports. Stockholders of record on Monday, September 21st will be paid a dividend of 0.27 per share by the bank on Thursday, October 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, September 18th.

Stock Yards Bancorp has raised its dividend by 45.1% over the last three years and has increased its dividend every year for the last 8 years. Stock Yards Bancorp has a payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Stock Yards Bancorp to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 50.7%.

Shares of Stock Yards Bancorp stock opened at $39.93 on Wednesday. Stock Yards Bancorp has a 52 week low of $22.98 and a 52 week high of $44.73. The business’s fifty day simple moving average is $42.11 and its 200-day simple moving average is $35.32. The firm has a market cap of $905.69 million, a PE ratio of 14.96 and a beta of 0.79. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.15.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.12. The firm had revenue of $46.15 million for the quarter, compared to the consensus estimate of $46.60 million. Stock Yards Bancorp had a return on equity of 14.82% and a net margin of 30.12%. As a group, equities analysts expect that Stock Yards Bancorp will post 2.56 earnings per share for the current year.

Several equities research analysts recently issued reports on SYBT shares. BidaskClub upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. TheStreet upgraded Stock Yards Bancorp from a “c+” rating to a “b” rating in a report on Thursday, June 18th. ValuEngine upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Friday, August 28th. Raymond James upped their price target on Stock Yards Bancorp from $42.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, Zacks Investment Research downgraded Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

In other Stock Yards Bancorp news, EVP William Dishman sold 1,874 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $42.90, for a total transaction of $80,394.60. Also, Chairman David P. Heintzman sold 2,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $39.40, for a total value of $78,800.00. Following the transaction, the chairman now directly owns 151,670 shares of the company’s stock, valued at approximately $5,975,798. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,115 shares of company stock valued at $824,529. Company insiders own 6.56% of the company’s stock.

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.

Further Reading: Limitations of the P/E Growth ratio

Dividend History for Stock Yards Bancorp (NASDAQ:SYBT)

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