Stock Yards Bancorp (NASDAQ:SYBT) posted its quarterly earnings data on Tuesday. The bank reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.26, MarketWatch Earnings reports. Stock Yards Bancorp had a net margin of 29.08% and a return on equity of 13.88%.
Shares of Stock Yards Bancorp stock traded up $0.14 on Thursday, hitting $50.97. 33,313 shares of the company traded hands, compared to its average volume of 60,365. The company has a 50-day moving average price of $52.16 and a 200 day moving average price of $44.48. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.13. Stock Yards Bancorp has a 12-month low of $26.52 and a 12-month high of $56.00. The company has a market cap of $1.16 billion, a PE ratio of 20.11 and a beta of 0.80.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Friday, March 12th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Thursday, March 11th. Stock Yards Bancorp’s dividend payout ratio is currently 37.37%.
In other news, CEO James A. Hillebrand sold 4,868 shares of the business’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $55.29, for a total transaction of $269,151.72. Following the transaction, the chief executive officer now directly owns 72,791 shares in the company, valued at approximately $4,024,614.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David P. Heintzman sold 5,000 shares of the business’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $44.90, for a total transaction of $224,500.00. Following the transaction, the director now owns 146,622 shares in the company, valued at $6,583,327.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,623 shares of company stock worth $925,076. 6.56% of the stock is currently owned by corporate insiders.
Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $43.00 to $51.00 in a research report on Thursday, January 28th. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, February 3rd. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $48.50.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc operates as the holding company for SYB that provides various banking products and services in Louisville, Indianapolis, and Cincinnati. It operates in two segments, Commercial Banking and WM&T. The Commercial Banking segment provides a range of loan and deposit products, retail and commercial lending products, deposit services, merchant services, and treasury management services, as well as private, international, correspondent, mortgage, online and mobile, and other banking services to individual consumers and businesses.
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