Stock Yards Bancorp (NASDAQ:SYBT) Issues Earnings Results

Stock Yards Bancorp (NASDAQ:SYBT) posted its quarterly earnings data on Wednesday. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.84 by $0.10, Zacks reports. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.51%. The firm had revenue of $123.96 million during the quarter, compared to analyst estimates of $83.90 million.

Stock Yards Bancorp Price Performance

Shares of SYBT traded up $2.22 during midday trading on Thursday, reaching $63.60. The stock had a trading volume of 161,226 shares, compared to its average volume of 85,120. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 18.00 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a 12-month low of $36.93 and a 12-month high of $64.51. The company’s 50-day moving average is $49.41 and its 200 day moving average is $47.71.

Stock Yards Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, June 17th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 33.71%.

Analyst Ratings Changes

SYBT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday. Stephens raised their target price on Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Hovde Group boosted their price target on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.50.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $47.05, for a total transaction of $141,150.00. Following the transaction, the director now directly owns 113,070 shares of the company’s stock, valued at $5,319,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is currently owned by corporate 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.