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

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

Stock Yards Bancorp Price Performance

Shares of SYBT stock opened at $74.43 on Wednesday. The company has a market capitalization of $2.19 billion, a PE ratio of 20.49 and a beta of 0.86. The firm has a fifty day simple moving average of $73.84 and a 200-day simple moving average of $65.31. 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 twelve month low of $42.35 and a twelve month high of $79.79.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 annualized dividend and a yield of 1.67%. Stock Yards Bancorp’s dividend payout ratio is currently 34.07%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, EVP Michael Rehm sold 2,650 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total value of $198,246.50. Following the sale, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at $1,266,308.87. This represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David P. Heintzman sold 7,659 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $65.98, for a total transaction of $505,340.82. Following the completion of the sale, the director now directly owns 99,411 shares in the company, valued at $6,559,137.78. This represents a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,614 shares of company stock worth $2,347,890. 3.90% of the stock is currently owned by company 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.