Stock Yards Bancorp (NASDAQ:SYBT) Announces Earnings Results

Stock Yards Bancorp (NASDAQ:SYBT) released its quarterly earnings data on Wednesday. The bank reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06, Yahoo Finance reports. The company had revenue of $130.52 million during the quarter, compared to the consensus estimate 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 Trading Down 2.3 %

Shares of NASDAQ:SYBT traded down $1.53 during mid-day trading on Friday, reaching $64.98. 40,240 shares of the company were exchanged, compared to its average volume of 104,086. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick 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. The firm’s 50-day simple moving average is $60.96 and its 200 day simple moving average is $53.69. Stock Yards Bancorp has a 1 year low of $37.51 and a 1 year high of $67.12.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 34.83%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYBT. Stephens increased their price objective on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler raised their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Finally, Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $67.00 to $68.00 in a report on Thursday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.75.

Insider Buying and Selling

In related news, EVP William Dishman sold 2,204 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $62.31, for a total transaction of $137,331.24. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Stock Yards Bancorp news, EVP William Dishman sold 2,204 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 34,444 shares of the company’s stock, valued at $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 is available at this link. Also, CEO James A. Hillebrand sold 9,053 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 105,450 shares of the company’s stock, valued at $6,536,845.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,457 shares of company stock valued at $961,846. Company insiders own 3.90% of the company’s stock.

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.