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

Stock Yards Bancorp (NASDAQ:SYBT) announced its earnings results on Wednesday. The bank reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.23, Zacks reports. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.93%. The business had revenue of $114.67 million during the quarter, compared to analyst estimates of $111.66 million.

Stock Yards Bancorp Stock Up 1.9%

SYBT stock opened at $87.86 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. Stock Yards Bancorp has a fifty-two week low of $61.51 and a fifty-two week high of $89.21. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 17.50 and a beta of 0.68. The business’s 50 day moving average price is $76.16 and its two-hundred day moving average price is $71.01.

Stock Yards Bancorp Dividend Announcement

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

Insider Buying and Selling at Stock Yards Bancorp

In related news, President Philip Poindexter sold 1,221 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the transaction, the president directly owned 53,376 shares in the company, valued at $3,772,615.68. This trade represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after acquiring an additional 2,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Stock Yards Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 658 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Stock Yards Bancorp by 28.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after purchasing an additional 11,758 shares during the period. Jane Street Group LLC purchased a new stake in Stock Yards Bancorp in the first quarter worth approximately $3,400,000. Finally, Cetera Investment Advisers bought a new stake in Stock Yards Bancorp in the 2nd quarter worth approximately $365,000. 56.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SYBT. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stock Yards Bancorp in a report on Friday, July 10th. Raymond James Financial initiated coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating for the company. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $82.00 to $90.00 in a research note on Thursday. Stephens set a $87.00 target price on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $88.00.

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.