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

Stock Yards Bancorp (NASDAQ:SYBT) posted its quarterly earnings results on Wednesday. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06, Yahoo Finance reports. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. The company had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million.

Stock Yards Bancorp Price Performance

Stock Yards Bancorp stock traded down $1.53 during midday trading on Friday, reaching $64.98. The company had a trading volume of 40,240 shares, compared to its average volume of 104,086. The company has a market capitalization of $1.91 billion, a P/E ratio of 18.28 and a beta of 0.82. Stock Yards Bancorp has a 12-month low of $37.51 and a 12-month high of $67.12. The firm’s fifty day simple moving average is $60.96 and its 200-day simple moving average is $53.69. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92.

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 paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change 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 1.91%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.83%.

Insider Activity at Stock Yards Bancorp

In related news, CEO James A. Hillebrand sold 9,053 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $61.99, for a total value of $561,195.47. Following the transaction, the chief executive officer now directly owns 105,450 shares of the company’s stock, valued at approximately $6,536,845.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP William Dishman sold 2,204 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,146,205.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James A. Hillebrand sold 9,053 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $61.99, for a total transaction of $561,195.47. Following the completion of the sale, the chief executive officer now owns 105,450 shares of the company’s stock, valued at approximately $6,536,845.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,457 shares of company stock valued at $961,846. 3.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.