Stock Yards Bancorp Inc (NASDAQ:SYBT) announced a quarterly dividend on Wednesday, May 22nd, RTT News reports. Shareholders of record on Monday, June 17th will be paid a dividend of 0.26 per share by the bank on Monday, July 1st. This represents a $1.04 dividend on an annualized basis and a yield of 2.99%. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.25.
Stock Yards Bancorp has increased its dividend by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Stock Yards Bancorp has a dividend payout ratio of 41.8% 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 $1.00 annual dividend with an expected future payout ratio of 37.7%.
Shares of NASDAQ:SYBT opened at $34.80 on Thursday. Stock Yards Bancorp has a 12 month low of $28.02 and a 12 month high of $41.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $795.60 million, a price-to-earnings ratio of 14.38 and a beta of 0.42.
In other Stock Yards Bancorp news, Chairman David P. Heintzman sold 5,686 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.64, for a total transaction of $202,649.04. Following the transaction, the chairman now directly owns 150,962 shares in the company, valued at approximately $5,380,285.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman David P. Heintzman sold 4,322 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $34.71, for a total transaction of $150,016.62. Following the transaction, the chairman now owns 150,962 shares in the company, valued at $5,239,891.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 472 shares of company stock worth $16,250. Corporate insiders own 8.30% of the company’s stock.
A number of equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Finally, ValuEngine lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd.
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.
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