Stock Yards Bancorp (NASDAQ:SYBT) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Stock Yards Bancorp (NASDAQ:SYBT) released its earnings results on Wednesday. The bank reported $0.94 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $123.96 million during the quarter, compared to analyst estimates of $83.90 million.

Stock Yards Bancorp Trading Down 0.5 %

NASDAQ:SYBT opened at $63.27 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. 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 $1.86 billion, a PE ratio of 17.77 and a beta of 0.83. The company has a 50 day simple moving average of $49.98 and a two-hundred day simple moving average of $47.92.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, June 17th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 33.71%.

Insiders Place Their Bets

In other Stock Yards Bancorp 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 completion of the sale, the director now owns 113,070 shares of the company’s stock, valued at approximately $5,319,943.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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