Stock Yards Bancorp (NASDAQ:SYBT) Issues Earnings Results, Beats Expectations By $0.06 EPS

Stock Yards Bancorp (NASDAQ:SYBT) released its quarterly earnings data on Wednesday. The bank reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06, Yahoo Finance reports. The firm had revenue of $130.52 million for 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 2.1 %

Shares of SYBT traded down $1.41 on Friday, hitting $65.10. 39,553 shares of the stock traded hands, compared to its average volume of 104,076. Stock Yards Bancorp has a 1 year low of $37.51 and a 1 year high of $67.12. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average is $60.96 and its two-hundred day moving average is $53.69. The firm has a market capitalization of $1.91 billion, a P/E ratio of 18.28 and a beta of 0.82.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a dividend of $0.31 per share. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.90%. Stock Yards Bancorp’s dividend payout ratio is presently 34.83%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CEO James A. Hillebrand sold 9,053 shares of the company’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 owns 105,450 shares of the company’s stock, valued at approximately $6,536,845.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO James A. Hillebrand sold 9,053 shares of the company’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 owns 105,450 shares of the company’s stock, valued at approximately $6,536,845.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard A. Lechleiter purchased 650 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $56.40 per share, with a total value of $36,660.00. Following the transaction, the director now directly owns 5,680 shares of the company’s stock, valued at $320,352. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 15,457 shares of company stock valued at $961,846. 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.