Stock Yards Bancorp (NASDAQ:SYBT) Issues Earnings Results

Key Points

• EPS beat: Stock Yards Bancorp reported quarterly EPS of $1.24 versus the $1.00 consensus, though revenue missed at $102.63 million versus $108.18 million estimated.
• Dividend: The company paid a quarterly dividend of $0.32 (annualized $1.28) for a yield of about 1.8% and a payout ratio near 27%.
• Valuation and analyst views: Shares trade around $70 with a $2.07 billion market cap and a P/E of ~14.8, and analysts’ average target is $77.75 (2 Buys, 4 Holds) after several modest upgrades.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) posted its quarterly earnings data on Wednesday. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.24, FiscalAI reports. The business had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%.

Stock Yards Bancorp Price Performance

SYBT opened at $70.14 on Wednesday. The business has a fifty day moving average of $66.89 and a 200 day moving average of $67.22. Stock Yards Bancorp has a 52-week low of $61.51 and a 52-week high of $83.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.07 billion, a P/E ratio of 14.77 and a beta of 0.67.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 16th. Stock Yards Bancorp's dividend payout ratio (DPR) is currently 26.95%.

Institutional Trading of Stock Yards Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of Stock Yards Bancorp during the third quarter valued at $28,000. Brown Brothers Harriman & Co. purchased a new position in Stock Yards Bancorp in the 3rd quarter worth about $45,000. Empowered Funds LLC purchased a new position in Stock Yards Bancorp in the 4th quarter worth about $60,000. Advisory Services Network LLC bought a new stake in Stock Yards Bancorp during the 3rd quarter valued at about $124,000. Finally, Sei Investments Co. bought a new stake in Stock Yards Bancorp during the 2nd quarter valued at about $207,000. 56.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYBT shares. Keefe, Bruyette & Woods boosted their target price on Stock Yards Bancorp from $79.00 to $80.00 and gave the company a "market perform" rating in a research report on Thursday, April 9th. Hovde Group raised shares of Stock Yards Bancorp from a "market perform" rating to an "outperform" rating and set a $75.00 price objective for the company in a research note on Friday, March 6th. Zacks Research cut shares of Stock Yards Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Piper Sandler reissued a "neutral" rating and issued a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Finally, Weiss Ratings upgraded shares of Stock Yards Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 13th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Stock Yards Bancorp has an average rating of "Hold" and an average target price of $77.75.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank's core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.