Stock Yards Bancorp (NASDAQ:SYBT) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Stock Yards Bancorp (NASDAQ:SYBT) announced its quarterly earnings data on Wednesday. The bank reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08, RTT News reports. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. During the same period last year, the company posted $0.82 earnings per share.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $74.06 on Thursday. The company has a market cap of $2.18 billion, a PE ratio of 20.35 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $73.82 and a 200-day moving average price of $65.37. Stock Yards Bancorp has a 12-month low of $42.35 and a 12-month high of $79.79.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.67%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 34.07%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYBT. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Piper Sandler lifted their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Stephens lowered Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $76.00 in a report on Friday, November 15th.

Insider Activity

In related news, Director David P. Heintzman sold 2,341 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $66.05, for a total value of $154,623.05. Following the completion of the sale, the director now owns 97,070 shares in the company, valued at $6,411,473.50. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Philip Poindexter sold 3,419 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the completion of the sale, the president now owns 51,331 shares of the company’s stock, valued at $3,878,057.05. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,614 shares of company stock worth $2,347,890. 3.90% of the stock is currently owned by insiders.

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.