Stock Yards Bancorp, Inc. (NASDAQ:SYBT) to Issue Dividend Increase – $0.33 Per Share

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) announced a quarterly dividend on Tuesday, August 18th. Stockholders of record on Monday, September 21st will be paid a dividend of 0.33 per share by the bank on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, September 21st. This is a 3.1% increase from Stock Yards Bancorp’s previous quarterly dividend of $0.32.

Stock Yards Bancorp has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 15 years. Stock Yards Bancorp has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stock Yards Bancorp to earn $5.63 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 22.7%.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $81.94 on Thursday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 16.32 and a beta of 0.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day simple moving average is $79.62 and its 200-day simple moving average is $72.59. Stock Yards Bancorp has a 12 month low of $61.51 and a 12 month high of $89.21.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.23. The firm had revenue of $114.71 million during the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%. As a group, equities analysts forecast that Stock Yards Bancorp will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director Laura L. Wells sold 6,823 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the completion of the transaction, the director directly owned 9,580 shares of the company’s stock, valued at $826,658.20. The trade was a 41.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. boosted its stake in shares of Stock Yards Bancorp by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock worth $1,306,000 after purchasing an additional 237 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Stock Yards Bancorp by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock worth $312,000 after buying an additional 310 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Stock Yards Bancorp by 1.5% in the second quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock valued at $2,031,000 after buying an additional 383 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Stock Yards Bancorp by 7.5% during the fourth quarter. Handelsbanken Fonder AB now owns 5,700 shares of the bank’s stock valued at $370,000 after buying an additional 400 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of Stock Yards Bancorp during the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.