Stock Yards Bancorp (NASDAQ:SYBT) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) announced its quarterly earnings data on Wednesday. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07, FiscalAI reports. Stock Yards Bancorp had a return on equity of 13.78% and a net margin of 25.06%.The business had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million.

Stock Yards Bancorp Stock Down 0.1%

Stock Yards Bancorp stock opened at $70.44 on Friday. The company has a market capitalization of $2.08 billion, a P/E ratio of 14.49 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99. Stock Yards Bancorp has a fifty-two week low of $61.51 and a fifty-two week high of $83.83. The stock has a 50-day simple moving average of $66.97 and a 200-day simple moving average of $67.26.

Stock Yards Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new position in shares of Stock Yards Bancorp in the fourth quarter valued at approximately $250,000. Empowered Funds LLC acquired a new stake in shares of Stock Yards Bancorp during the fourth quarter worth $60,000. Voloridge Investment Management LLC lifted its holdings in shares of Stock Yards Bancorp by 35.7% during the fourth quarter. Voloridge Investment Management LLC now owns 78,394 shares of the bank’s stock worth $5,092,000 after purchasing an additional 20,605 shares during the period. Tudor Investment Corp ET AL grew its position in Stock Yards Bancorp by 53.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 117,402 shares of the bank’s stock valued at $7,625,000 after buying an additional 41,134 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Stock Yards Bancorp in the 4th quarter valued at $703,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Stephens boosted their price target on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday. Keefe, Bruyette & Woods increased their price objective on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday, March 6th. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $75.50.

Check Out Our Latest Stock Analysis on SYBT

More Stock Yards Bancorp News

Here are the key news stories impacting Stock Yards Bancorp this week:

About Stock Yards Bancorp

(Get Free Report)

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.

Read More

Earnings History for Stock Yards Bancorp (NASDAQ:SYBT)

Receive News & Ratings for Stock Yards Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stock Yards Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.