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

Stock Yards Bancorp (NASDAQ:SYBT) announced its quarterly earnings data on Wednesday. The bank reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08, RTT News reports. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period in the prior year, the business posted $0.82 EPS.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock opened at $74.13 on Friday. The business’s fifty day simple moving average is $73.82 and its 200 day simple moving average is $65.37. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp has a 12 month low of $42.35 and a 12 month high of $79.79. The firm has a market capitalization of $2.18 billion, a P/E ratio of 19.06 and a beta of 0.86.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.31 dividend. The ex-dividend date of this dividend 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 payout ratio is presently 31.88%.

Analyst Ratings Changes

SYBT has been the topic of several recent analyst reports. Stephens lowered Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, Piper Sandler upped their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th.

Insider Buying and Selling

In other news, Director David P. Heintzman sold 2,341 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $66.05, for a total transaction 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. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Philip Poindexter sold 3,419 shares of Stock Yards Bancorp stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the sale, the president now directly owns 51,331 shares in the company, valued at $3,878,057.05. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,955 shares of company stock valued at $1,842,549. 3.90% of the stock is owned by 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.