Stock Yards Bancorp (SYBT) Projected to Post Quarterly Earnings on Wednesday

Stock Yards Bancorp (NASDAQ:SYBT) will likely be announcing its quarterly earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.99 per share and revenue of $91,000.00 billion for the quarter.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The business had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. On average, analysts expect Stock Yards Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Stock Yards Bancorp Price Performance

SYBT stock opened at $73.12 on Tuesday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 20.09 and a beta of 0.86. The stock’s fifty day simple moving average is $73.88 and its 200-day simple moving average is $65.13. Stock Yards Bancorp has a 52-week low of $42.35 and a 52-week high of $79.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, December 16th. Stock Yards Bancorp’s payout ratio is currently 34.07%.

Insider Buying and Selling

In related news, President Philip Poindexter sold 3,419 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the sale, the president now directly owns 51,331 shares in the company, valued at approximately $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Heintzman sold 7,659 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $65.98, for a total value of $505,340.82. Following the sale, the director now directly owns 99,411 shares of the company’s stock, valued at $6,559,137.78. This trade represents a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,614 shares of company stock valued at $2,347,890. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SYBT has been the topic of several analyst reports. Piper Sandler raised their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th. Finally, Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $70.00 to $76.00 in a report on Friday, November 15th.

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.