Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) posted its quarterly earnings results on Wednesday. The bank reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07, FiscalAI reports. The company had revenue of $120.32 million during the quarter, compared to the consensus estimate of $119.31 million. Stock Yards Bancorp had a net margin of 25.89% and a return on equity of 13.73%.
Stock Yards Bancorp Stock Performance
Shares of NASDAQ SYBT traded up $0.01 during trading hours on Friday, hitting $78.72. 7,919 shares of the company’s stock were exchanged, compared to its average volume of 166,360. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 15.16 and a beta of 0.74. Stock Yards Bancorp has a 1-year low of $61.51 and a 1-year high of $89.21. The company’s 50-day moving average price is $78.36 and its 200-day moving average price is $73.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01.
Stock Yards Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 21st were paid a $0.33 dividend. The ex-dividend date was Monday, September 21st. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.7%. Stock Yards Bancorp’s dividend payout ratio is presently 26.29%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on SYBT shares. Weiss Ratings raised Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $82.00 to $90.00 in a research report on Thursday, July 30th. Piper Sandler restated a “neutral” rating and set a $87.00 price objective (down from $90.00) on shares of Stock Yards Bancorp in a research note on Thursday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.50.
Get Our Latest Stock Analysis on Stock Yards Bancorp
About Stock Yards Bancorp
Stock Yards Bancorp, Inc (NASDAQ:SYBT) is a financial holding company headquartered in Louisville, Kentucky. It is the parent company of Stock Yards Bank & Trust Company, a full-service community bank founded in 1904.
Through Stock Yards Bank & Trust, the company provides commercial and retail banking services to individuals, businesses, and institutions. Its offerings include deposit accounts, commercial and consumer lending, residential mortgage lending, treasury management, online and mobile banking, and other traditional banking products.
The company also provides wealth management, trust, investment management, and brokerage services.
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