Stock Yards Bancorp (NASDAQ:SYBT) Releases Earnings Results

Key Points

• Stock Yards Bancorp reported quarterly EPS of $1.31, beating the consensus estimate of $1.08 by $0.23. The bank posted a 25.06% net margin and 13.58% return on equity.
• Shares rose to $87.81 in mid-day trading, near the company’s 52-week high of $89.16. The company also declared a quarterly dividend of $0.32, equivalent to an annualized $1.28 payout and a 1.5% yield.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $76.75, below the recent share price.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) posted its earnings results on Wednesday. The bank reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.23, Zacks reports. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%.

Stock Yards Bancorp Price Performance

Shares of SYBT traded up $2.39 during mid-day trading on Wednesday, hitting $87.81. The company's stock had a trading volume of 154,991 shares, compared to its average volume of 171,493. The firm has a market capitalization of $2.59 billion, a P/E ratio of 18.10 and a beta of 0.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 1-year low of $61.51 and a 1-year high of $89.16. The firm has a 50-day simple moving average of $75.52 and a 200 day simple moving average of $70.73.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, June 15th. Stock Yards Bancorp's dividend payout ratio (DPR) is 26.34%.

Wall Street Analyst Weigh In

Several research firms have commented on SYBT. Piper Sandler reiterated a "neutral" rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Raymond James Financial began coverage on Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a "hold" rating for the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Stock Yards Bancorp in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a "market perform" rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of Stock Yards Bancorp from a "sell" rating to a "strong sell" rating in a report on Sunday, July 12th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Stock Yards Bancorp has a consensus rating of "Hold" and a consensus target price of $76.75.

Insider Buying and Selling at Stock Yards Bancorp

In related news, President Philip Poindexter sold 1,221 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the transaction, the president owned 53,376 shares of the company's stock, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

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

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.

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