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

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

Stock Yards Bancorp Price Performance

SYBT opened at $74.06 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. Stock Yards Bancorp has a 52-week low of $42.35 and a 52-week high of $79.79. The stock has a market capitalization of $2.18 billion, a PE ratio of 20.35 and a beta of 0.86. The stock’s 50 day moving average price is $73.82 and its 200-day moving average price is $65.37.

Stock Yards Bancorp Dividend Announcement

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 dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.67%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 34.07%.

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 stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Heintzman sold 3,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.10, for a total value of $273,350.00. Following the completion of the sale, the director now directly owns 21,411 shares in the company, valued at approximately $1,672,199.10. The trade was a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,614 shares of company stock valued at $2,347,890. Company insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SYBT shares. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th. Stephens cut Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $70.00 to $76.00 in a research note on Friday, November 15th. Finally, Piper Sandler lifted 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.

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.