Stock Yards Bancorp (NASDAQ:SYBT) Releases Earnings Results, Beats Estimates By $0.06 EPS

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) posted its quarterly earnings data on Wednesday. The bank reported $1.00 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 for the quarter, compared to analyst estimates of $87.57 million. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%.

Stock Yards Bancorp Stock Down 2.8 %

NASDAQ:SYBT traded down $1.83 during mid-day trading on Friday, hitting $64.68. 96,775 shares of the company's stock were exchanged, compared to its average volume of 104,359. The business has a fifty day moving average price of $60.96 and a 200 day moving average price of $53.69. The company has a market cap of $1.90 billion, a PE ratio of 18.28 and a beta of 0.82. Stock Yards Bancorp has a one year low of $37.51 and a one year high of $67.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a $0.31 dividend. This is a boost from Stock Yards Bancorp's previous quarterly dividend of $0.30. The ex-dividend date was Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.92%. Stock Yards Bancorp's payout ratio is presently 34.83%.

Insider Activity at Stock Yards Bancorp

In other news, CEO James A. Hillebrand sold 9,053 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $61.99, for a total value of $561,195.47. Following the completion of the sale, the chief executive officer now directly owns 105,450 shares of the company's stock, valued at $6,536,845.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO James A. Hillebrand sold 9,053 shares of Stock Yards Bancorp stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $61.99, for a total transaction of $561,195.47. Following the completion of the sale, the chief executive officer now owns 105,450 shares in the company, valued at $6,536,845.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William Dishman sold 2,204 shares of Stock Yards Bancorp stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $62.31, for a total transaction of $137,331.24. Following the completion of the transaction, the executive vice president now directly owns 34,444 shares in the company, valued at approximately $2,146,205.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,457 shares of company stock worth $961,846 over the last quarter. Company insiders own 3.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on SYBT. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $64.00 target price (up previously 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 upped their price target for the company from $67.00 to $68.00 in a report on Thursday. Piper Sandler upped their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Stephens lifted their target price on Stock Yards Bancorp from $60.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $67.75.

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.