Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) released its earnings results on Wednesday. The bank reported $1.07 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business earned $0.82 earnings per share.
Stock Yards Bancorp Stock Performance
NASDAQ:SYBT traded up $0.07 during mid-day trading on Thursday, hitting $74.13. The stock had a trading volume of 148,566 shares, compared to its average volume of 116,769. The company has a 50 day simple moving average of $73.82 and a 200-day simple moving average of $65.37. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 20.37 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp has a 52 week low of $42.35 and a 52 week high of $79.79.
Stock Yards Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 yield of 1.67%. Stock Yards Bancorp's payout ratio is 34.07%.
Insider Transactions at Stock Yards Bancorp
In other Stock Yards Bancorp news, EVP Michael Rehm sold 2,650 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the sale, the executive vice president now directly owns 16,927 shares in the company, valued at approximately $1,266,308.87. The trade was a 13.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David P. Heintzman sold 2,341 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $66.05, for a total transaction of $154,623.05. Following the completion of the sale, the director now directly owns 97,070 shares of the company's stock, valued at approximately $6,411,473.50. This represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,614 shares of company stock worth $2,347,890. Company insiders own 3.90% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Piper Sandler boosted 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 note on Thursday, October 24th. Stephens cut Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $70.00 to $76.00 in a report on Friday, November 15th. Finally, Hovde Group lowered Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and upped their price target for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th.
View Our Latest Report on SYBT
About Stock Yards Bancorp
(
Get Free Report)
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.
Further Reading
Before you consider Stock Yards Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Stock Yards Bancorp wasn't on the list.
While Stock Yards Bancorp currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
