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 41.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Stock Yards Bancorp to earn $2.68 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 37.3%.
Stock Yards Bancorp Inc (NASDAQ:SYBT) announced a quarterly dividend on Thursday, February 21st, Wall Street Journal reports. Investors of record on Monday, March 18th will be paid a dividend of 0.25 per share by the bank on Tuesday, April 2nd. This represents a $1.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, March 15th.
Shares of SYBT stock opened at $35.45 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $806.38 million, a P/E ratio of 14.68 and a beta of 0.43. Stock Yards Bancorp has a 1 year low of $28.02 and a 1 year high of $41.00.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. The business had revenue of $41.49 million during the quarter, compared to analysts’ expectations of $40.40 million. Stock Yards Bancorp had a return on equity of 15.83% and a net margin of 31.70%. As a group, analysts predict that Stock Yards Bancorp will post 2.52 earnings per share for the current year.
In other Stock Yards Bancorp news, Chairman David P. Heintzman sold 2,865 shares of the company’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $34.91, for a total transaction of $100,017.15. Following the completion of the sale, the chairman now directly owns 142,437 shares in the company, valued at $4,972,475.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathy C. Thompson sold 3,015 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $36.15, for a total value of $108,992.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 2,655 shares of company stock valued at $85,654 and have sold 8,880 shares valued at $306,899. 8.42% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, February 15th. FIG Partners cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and set a $36.00 target price for the company. in a research note on Tuesday, January 8th. BidaskClub upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. Finally, ValuEngine upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 26th.
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, certificates of deposit, money market deposits, and time deposits.
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