Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06, Yahoo Finance reports. The business had revenue of $130.52 million during 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 Price Performance
SYBT stock traded down $1.44 during trading on Friday, hitting $65.07. The stock had a trading volume of 38,504 shares, compared to its average volume of 104,070. Stock Yards Bancorp has a 1-year low of $37.51 and a 1-year high of $67.12. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 18.68 and a beta of 0.82. The company’s 50 day moving average price is $60.96 and its two-hundred day moving average price is $53.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 0.92.
Stock Yards Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Monday, September 16th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.83%.
Insider Transactions at Stock Yards Bancorp
Analyst Upgrades and Downgrades
SYBT has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated 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, July 25th. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $67.00 to $68.00 in a report on Thursday. Piper Sandler upped their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Stephens lifted their price target on Stock Yards Bancorp from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $67.75.
Read Our Latest Report on SYBT
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.
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