Stock Yards Bancorp Inc (SYBT) to Issue Quarterly Dividend of $0.27 on October 1st
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.
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
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