Stock Yards Bancorp (NASDAQ:SYBT) Releases Earnings Results, Beats Expectations By $0.10 EPS

Stock Yards Bancorp (NASDAQ:SYBT) released its quarterly earnings results on Wednesday. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.84 by $0.10, Zacks reports. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.36%. The business had revenue of $123.96 million during the quarter, compared to analyst estimates of $83.90 million.

Stock Yards Bancorp Stock Down 2.8 %

SYBT stock traded down $1.75 during trading hours on Friday, reaching $61.85. 36,035 shares of the stock were exchanged, compared to its average volume of 84,972. The firm’s 50-day moving average is $49.70 and its 200-day moving average is $47.82. Stock Yards Bancorp has a 12 month low of $36.93 and a 12 month high of $64.51. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 17.74 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Monday, June 17th. Stock Yards Bancorp’s payout ratio is presently 33.71%.

Insider Transactions at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $47.05, for a total value of $141,150.00. Following the sale, the director now directly owns 113,070 shares in the company, valued at $5,319,943.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SYBT shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday. Hovde Group boosted their price target on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Stephens lifted their price objective on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.50.

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.