Stock Yards Bancorp, Inc. (SYBT) to Issue Quarterly Dividend of $0.32 on April 1st

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) declared a quarterly dividend on Tuesday, February 24th. Investors of record on Monday, March 16th will be paid a dividend of 0.32 per share by the bank on Wednesday, April 1st. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th.

Stock Yards Bancorp has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Stock Yards Bancorp has a payout ratio of 28.8% 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 $1.28 annual dividend with an expected future payout ratio of 28.6%.

Stock Yards Bancorp Trading Down 0.4%

SYBT stock traded down $0.24 during midday trading on Thursday, reaching $66.54. The company’s stock had a trading volume of 12,032 shares, compared to its average volume of 119,795. The business’s 50-day simple moving average is $67.89 and its 200-day simple moving average is $69.91. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.31. Stock Yards Bancorp has a 52 week low of $60.75 and a 52 week high of $83.83. The stock has a market cap of $1.96 billion, a PE ratio of 14.07 and a beta of 0.72.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.91% and a net margin of 24.83%.The company had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. As a group, sell-side analysts expect that Stock Yards Bancorp will post 4.16 EPS for the current year.

Hedge Funds Weigh In On Stock Yards Bancorp

Several hedge funds have recently made changes to their positions in the business. Stock Yards Bank & Trust Co. grew its holdings in shares of Stock Yards Bancorp by 37.7% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock valued at $86,928,000 after acquiring an additional 366,475 shares in the last quarter. Marshall Wace LLP boosted its position in Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock valued at $11,561,000 after purchasing an additional 155,512 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Stock Yards Bancorp in the fourth quarter valued at approximately $7,461,000. Envestnet Asset Management Inc. increased its position in shares of Stock Yards Bancorp by 1,496.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock worth $9,216,000 after purchasing an additional 109,382 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Stock Yards Bancorp by 211.2% during the 4th quarter. Millennium Management LLC now owns 131,842 shares of the bank’s stock worth $8,563,000 after purchasing an additional 89,470 shares in the last quarter. 56.46% of the stock is owned by institutional investors.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.