Stock Yards Bancorp (NASDAQ:SYBT) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Stock Yards Bancorp (NASDAQ:SYBT) released its quarterly earnings data on Wednesday. The bank reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06, Yahoo Finance reports. The business had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT traded down $1.41 during trading on Friday, reaching $65.10. The company’s stock had a trading volume of 39,553 shares, compared to its average volume of 104,076. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 18.28 and a beta of 0.82. Stock Yards Bancorp has a twelve month low of $37.51 and a twelve month high of $67.12. The business’s fifty day moving average price is $60.96 and its 200-day moving average price is $53.69.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were given a $0.31 dividend. The ex-dividend date was Monday, September 16th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.90%. Stock Yards Bancorp’s payout ratio is 34.83%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SYBT shares. Stephens lifted their price objective on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $67.00 to $68.00 in a research report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Finally, Piper Sandler boosted their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.75.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, EVP William Dishman sold 2,204 shares of Stock Yards Bancorp stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $62.31, for a total value of $137,331.24. Following the transaction, the executive vice president now directly owns 34,444 shares in the company, valued at approximately $2,146,205.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stock Yards Bancorp news, EVP William Dishman sold 2,204 shares of Stock Yards Bancorp stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $62.31, for a total value of $137,331.24. Following the transaction, the executive vice president now directly owns 34,444 shares in the company, valued at approximately $2,146,205.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David P. Heintzman sold 2,700 shares of Stock Yards Bancorp stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $63.07, for a total transaction of $170,289.00. Following the completion of the transaction, the director now owns 29,786 shares in the company, valued at approximately $1,878,603.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,457 shares of company stock worth $961,846. 3.90% of the stock is owned by company insiders.

Stock Yards Bancorp Company Profile

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.