Stock Yards Bancorp (NASDAQ:SYBT) Releases Earnings Results

Stock Yards Bancorp (NASDAQ:SYBT) issued 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 net margin of 21.62% and a return on equity of 12.00%. During the same quarter in the previous year, the business earned $0.82 EPS.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $74.43 on Wednesday. Stock Yards Bancorp has a one year low of $42.35 and a one year high of $79.79. The company has a 50-day moving average of $73.84 and a two-hundred day moving average of $65.31. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 20.49 and a beta of 0.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.31 per share. The ex-dividend date of this dividend 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 34.07%.

Insider Transactions at Stock Yards Bancorp

In related news, EVP Michael Rehm sold 2,650 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the transaction, the executive vice president now owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Philip Poindexter sold 3,419 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $75.55, for a total transaction of $258,305.45. Following the transaction, the president now directly owns 51,331 shares in the company, valued at approximately $3,878,057.05. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,614 shares of company stock valued at $2,347,890 over the last three months. 3.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.