Stock Yards Bancorp (NASDAQ:SYBT) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

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

Stock Yards Bancorp Stock Up 0.6%

SYBT traded up $0.44 during trading on Wednesday, hitting $70.91. 13,097 shares of the company’s stock traded hands, compared to its average volume of 156,845. The company’s 50 day simple moving average is $66.89 and its two-hundred day simple moving average is $67.22. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 12-month low of $61.51 and a 12-month high of $83.83. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 14.93 and a beta of 0.67.

Stock Yards Bancorp Announces Dividend

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

Institutional Trading of Stock Yards Bancorp

Several institutional investors have recently added to or reduced their stakes in SYBT. Quarry LP purchased a new stake in Stock Yards Bancorp during the 3rd quarter valued at $28,000. Brown Brothers Harriman & Co. purchased a new stake in Stock Yards Bancorp during the 3rd quarter valued at $45,000. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp during the 4th quarter valued at $60,000. Advisory Services Network LLC purchased a new stake in Stock Yards Bancorp during the 3rd quarter valued at $124,000. Finally, Sei Investments Co. purchased a new stake in 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYBT. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Zacks Research downgraded Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Piper Sandler restated a “neutral” rating and issued a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on Stock Yards Bancorp from $79.00 to $80.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.