Stock Yards Bancorp (NASDAQ:SYBT) Announces Earnings Results

Stock Yards Bancorp (NASDAQ:SYBT) released its quarterly earnings results on Wednesday. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10, Zacks reports. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.36%. The business had revenue of $123.96 million during the quarter, compared to analysts’ expectations of $83.90 million.

Stock Yards Bancorp Stock Performance

SYBT traded down $1.47 during midday trading on Friday, reaching $62.13. The company had a trading volume of 57,442 shares, compared to its average volume of 85,148. Stock Yards Bancorp has a 1 year low of $36.93 and a 1 year high of $64.51. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.83 billion, a P/E ratio of 17.74 and a beta of 0.83. The business has a 50-day moving average of $49.70 and a two-hundred day moving average of $47.82.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were given a dividend of $0.30 per share. The ex-dividend date was Monday, June 17th. This represents a $1.20 annualized dividend and a yield of 1.93%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 33.71%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SYBT shares. Stephens boosted their price objective on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday. Finally, Hovde Group upped their price target on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.50.

Insider Activity

In related news, Director David P. Heintzman sold 3,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $47.05, for a total value of $141,150.00. Following the completion of the sale, the director now directly owns 113,070 shares of the company’s stock, valued at approximately $5,319,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.