Stock Yards Bancorp (NASDAQ:SYBT) Issues Quarterly Earnings Results

Stock Yards Bancorp (NASDAQ:SYBT) issued its quarterly earnings results on Wednesday. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.24, FiscalAI reports. The business had revenue of $102.63 million during the quarter, compared to the consensus estimate 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 Stock Down 0.3%

Shares of SYBT opened at $70.28 on Thursday. Stock Yards Bancorp has a 12 month low of $61.51 and a 12 month high of $83.83. The stock’s 50 day moving average is $66.93 and its two-hundred day moving average is $67.24. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.07 billion, a P/E ratio of 14.80 and a beta of 0.67.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.95%.

Wall Street Analysts Forecast Growth

SYBT has been the subject of a number of research reports. Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Hovde Group upgraded Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, March 6th. Piper Sandler reiterated a “neutral” rating and issued a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a report on Friday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Stock Yards Bancorp from $79.00 to $80.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp presently has an average rating of “Hold” and a consensus price target of $77.75.

Institutional Trading of Stock Yards Bancorp

A number of large investors have recently made changes to their positions in the company. Inceptionr LLC raised its holdings in Stock Yards Bancorp by 67.0% during the fourth quarter. Inceptionr LLC now owns 5,018 shares of the bank’s stock worth $326,000 after purchasing an additional 2,014 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Stock Yards Bancorp in the 4th quarter valued at $302,000. EP Wealth Advisors LLC acquired a new position in shares of Stock Yards Bancorp in the 2nd quarter valued at $296,000. MML Investors Services LLC grew its position in shares of Stock Yards Bancorp by 19.6% in the 4th quarter. MML Investors Services LLC now owns 4,285 shares of the bank’s stock valued at $278,000 after buying an additional 701 shares during the last quarter. Finally, Atom Investors LP purchased a new position in shares of Stock Yards Bancorp in the 4th quarter valued at $276,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Company Profile

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.