Stock Yards Bancorp Inc (SYBT) Declares Quarterly Dividend of $0.26

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.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Stock Yards Bancorp had a net margin of 31.99% and a return on equity of 16.01%. The firm had revenue of $40.72 million for the quarter, compared to analyst estimates of $41.10 million. Analysts expect that Stock Yards Bancorp will post 2.57 earnings per share for the current fiscal year.

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.

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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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Dividend History for Stock Yards Bancorp (NASDAQ:SYBT)

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