Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Plans Quarterly Dividend of $0.31

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Investors of record on Monday, March 17th will be given a dividend of 0.31 per share by the bank on Tuesday, April 1st. This represents a $1.24 annualized dividend and a yield of 1.64%.

Stock Yards Bancorp has increased its dividend by an average of 3.5% per year over the last three years and has increased its dividend every year for the last 15 years. Stock Yards Bancorp has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Stock Yards Bancorp to earn $4.48 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 27.7%.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $75.43 on Thursday. The company has a market cap of $2.22 billion, a P/E ratio of 19.39 and a beta of 0.86. Stock Yards Bancorp has a twelve month low of $42.35 and a twelve month high of $79.79. The company’s 50-day moving average price is $73.45 and its 200-day moving average price is $67.92. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the previous year, the company earned $0.82 earnings per share. On average, sell-side analysts forecast that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $78.10, for a total value of $273,350.00. Following the completion of the transaction, the director now owns 21,411 shares in the company, valued at $1,672,199.10. This trade represents a 14.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Philip Poindexter sold 3,419 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the transaction, the president now directly owns 51,331 shares of the company’s stock, valued at approximately $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,964 shares of company stock worth $535,110 over the last three months. Insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYBT. Piper Sandler lifted their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th. Finally, Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $70.00 to $76.00 in a research note on Friday, November 15th.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.