Stock Yards Bancorp, Inc. Announces Quarterly Dividend of $0.32 (NASDAQ:SYBT)

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) declared a quarterly dividend on Wednesday, May 20th. Stockholders of record on Monday, June 15th will be given a dividend of 0.32 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 15th.

Stock Yards Bancorp has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Stock Yards Bancorp has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Stock Yards Bancorp to earn $5.51 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 23.2%.

Stock Yards Bancorp Trading Up 1.2%

Shares of NASDAQ SYBT traded up $0.81 during midday trading on Wednesday, hitting $71.02. The company’s stock had a trading volume of 180,275 shares, compared to its average volume of 157,159. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $68.35 and its two-hundred day moving average is $67.60. Stock Yards Bancorp has a 12-month low of $61.51 and a 12-month high of $83.83. The firm has a market cap of $2.10 billion, a P/E ratio of 14.61 and a beta of 0.70.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The company had revenue of $102.63 million during the quarter, compared to analysts’ expectations of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. As a group, equities research analysts expect that Stock Yards Bancorp will post 5.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SYBT shares. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Stephens raised their target price on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, March 6th. Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday. Finally, Zacks Research lowered shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Stock Yards Bancorp currently has an average rating of “Hold” and an average target price of $76.00.

Stock Yards Bancorp Company Profile

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.