Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Raises Dividend to $0.32 Per Share

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) announced a quarterly dividend on Wednesday, August 20th, RTT News reports. Shareholders of record on Monday, September 15th will be paid a dividend of 0.32 per share by the bank on Wednesday, October 1st. This represents a c) annualized dividend and a yield of 1.7%. This is a 3.2% increase from Stock Yards Bancorp’s previous quarterly dividend of $0.31.

Stock Yards Bancorp has a dividend payout ratio of 27.9% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Up 1.9%

Shares of NASDAQ:SYBT opened at $77.17 on Thursday. The company’s 50-day moving average price is $77.20 and its two-hundred day moving average price is $73.73. Stock Yards Bancorp has a one year low of $56.07 and a one year high of $83.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $2.27 billion, a PE ratio of 17.74 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.10. The company had revenue of $97.91 million during the quarter, compared to analysts’ expectations of $95.32 million. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%. On average, equities analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

About Stock Yards Bancorp

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.