Stock Yards Bancorp Inc (SYBT) Announces $0.25 Quarterly Dividend
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 given a dividend of 0.25 per share by the bank on Tuesday, April 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, March 15th.
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 research 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%.
NASDAQ SYBT opened at $35.45 on Thursday. The firm 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 twelve month low of $28.02 and a twelve month high of $41.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96.
In other Stock Yards Bancorp news, insider Kathy C. Thompson sold 1,500 shares of the stock in a transaction dated Monday, December 31st. The stock was sold at an average price of $32.63, for a total transaction of $48,945.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David P. Heintzman sold 2,865 shares of the stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $34.91, for a total value of $100,017.15. Following the sale, the chairman now owns 142,437 shares of the company’s stock, valued at $4,972,475.67. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 2,655 shares of company stock valued at $85,654 and have sold 8,880 shares valued at $306,899. Company insiders own 8.42% of the company’s stock.
A number of analysts recently weighed in on the company. ValuEngine upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 26th. Zacks Investment Research upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 1st. BidaskClub upgraded Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, December 22nd. Finally, FIG Partners downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and set a $36.00 price target for the company. in a report on Tuesday, January 8th.
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, certificates of deposit, money market deposits, and time deposits.
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