S.Y. Bancorp, Inc. (NASDAQ:SYBT) Plans Dividend Increase – $0.23 Per Share

S.Y. Bancorp, Inc. (NASDAQ:SYBT) declared a quarterly dividend on Wednesday, February 21st, RTT News reports. Stockholders of record on Monday, March 19th will be given a dividend of 0.23 per share by the bank on Monday, April 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, March 16th. This is a positive change from S.Y. Bancorp’s previous quarterly dividend of $0.21.

Shares of SYBT stock traded down $0.65 during trading hours on Friday, reaching $35.55. The company had a trading volume of 43,871 shares, compared to its average volume of 51,518. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The company has a market cap of $820.02, a P/E ratio of 18.61 and a beta of 0.65. S.Y. Bancorp has a 1-year low of $31.90 and a 1-year high of $44.50.

S.Y. Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). The company had revenue of $38.57 million during the quarter, compared to analyst estimates of $38.01 million. S.Y. Bancorp had a net margin of 24.39% and a return on equity of 13.38%. research analysts anticipate that S.Y. Bancorp will post 2.27 earnings per share for the current fiscal year.

In other news, insider William Dishman bought 1,755 shares of the stock in a transaction on Monday, March 26th. The stock was purchased at an average price of $36.18 per share, for a total transaction of $63,495.90. Following the acquisition, the insider now owns 17,584 shares in the company, valued at $636,189.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carl G. Herde bought 3,000 shares of the stock in a transaction on Monday, March 19th. The shares were purchased at an average price of $36.05 per share, with a total value of $108,150.00. Following the acquisition, the director now owns 25,090 shares in the company, valued at approximately $904,494.50. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 6,249 shares of company stock valued at $224,878. 6.20% of the stock is owned by corporate insiders.

A number of research firms recently commented on SYBT. BidaskClub cut shares of S.Y. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research cut shares of S.Y. Bancorp from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research report on Friday, January 5th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $40.00 price objective on shares of S.Y. Bancorp in a research report on Friday, January 26th. Finally, FIG Partners upgraded shares of S.Y. Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. S.Y. Bancorp has a consensus rating of “Hold” and a consensus target price of $39.00.

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S.Y. 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.

Dividend History for S.Y. Bancorp (NASDAQ:SYBT)

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