Stock Yards Bancorp (NASDAQ:SYBT) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) issued its earnings results on Wednesday. The bank reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04), MarketWatch Earnings reports. The company had revenue of $119.66 million during the quarter, compared to analyst estimates of $82.60 million. Stock Yards Bancorp had a return on equity of 13.43% and a net margin of 24.54%.

Stock Yards Bancorp Stock Up 1.1 %

Shares of Stock Yards Bancorp stock traded up $0.56 during trading on Friday, reaching $51.96. The stock had a trading volume of 2,184 shares, compared to its average volume of 64,591. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 14.01 and a beta of 0.83. Stock Yards Bancorp has a 52 week low of $36.93 and a 52 week high of $63.16. The stock has a fifty day moving average price of $48.91 and a two-hundred day moving average price of $45.54.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, December 15th. Stock Yards Bancorp’s payout ratio is presently 32.70%.

Insiders Place Their Bets

In related news, EVP Kathy C. Thompson sold 4,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $50.59, for a total transaction of $202,360.00. Following the completion of the transaction, the executive vice president now directly owns 19,407 shares of the company’s stock, valued at $981,800.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stock Yards Bancorp news, EVP Kathy C. Thompson sold 4,000 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $50.59, for a total value of $202,360.00. Following the transaction, the executive vice president now directly owns 19,407 shares of the company’s stock, valued at approximately $981,800.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kathy C. Thompson sold 4,786 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $47.40, for a total value of $226,856.40. Following the sale, the executive vice president now owns 23,407 shares of the company’s stock, valued at $1,109,491.80. The disclosure for this sale can be found here. Insiders sold a total of 18,348 shares of company stock valued at $894,877 in the last quarter. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds have recently modified their holdings of SYBT. BNP Paribas Arbitrage SNC lifted its stake in shares of Stock Yards Bancorp by 2.4% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 6,542 shares of the bank’s stock valued at $445,000 after purchasing an additional 156 shares during the period. Meridian Wealth Management LLC boosted its holdings in shares of Stock Yards Bancorp by 3.4% during the 4th quarter. Meridian Wealth Management LLC now owns 6,892 shares of the bank’s stock worth $448,000 after buying an additional 229 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Stock Yards Bancorp by 1.7% in the 1st quarter. Guggenheim Capital LLC now owns 14,835 shares of the bank’s stock valued at $785,000 after acquiring an additional 247 shares in the last quarter. FMR LLC grew its holdings in Stock Yards Bancorp by 19.7% in the second quarter. FMR LLC now owns 1,588 shares of the bank’s stock worth $95,000 after purchasing an additional 261 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of Stock Yards Bancorp by 7.3% during the fourth quarter. Teacher Retirement System of Texas now owns 4,500 shares of the bank’s stock valued at $292,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 52.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYBT. Stephens cut their price objective on Stock Yards Bancorp from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, October 26th. TheStreet raised Stock Yards Bancorp from a “c+” rating to a “b-” rating in a report on Friday, December 8th. Finally, StockNews.com initiated coverage on shares of Stock Yards Bancorp in a report on Thursday, October 5th. They set a “sell” rating on the stock.

Read Our Latest Stock Analysis on Stock Yards Bancorp

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 mortgage banking and deposit services; retail, commercial, and commercial real estate lending services; and online banking, mobile banking, private banking, leasing, treasury management, merchant, international banking, correspondent banking, and other banking services.

Further Reading

Earnings History for Stock Yards Bancorp (NASDAQ:SYBT)

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