Stock Yards Bancorp (NASDAQ:SYBT) Issues Earnings Results
by Jessica Moore · The Cerbat GemStock Yards Bancorp (NASDAQ:SYBT – Get Free Report) announced its quarterly earnings data on Wednesday. The bank reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07, FiscalAI reports. The company had revenue of $102.63 million for the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a return on equity of 13.78% and a net margin of 25.06%.
Stock Yards Bancorp Stock Down 0.1%
Shares of NASDAQ:SYBT opened at $70.44 on Friday. The business has a 50-day moving average price of $66.97 and a 200 day moving average price of $67.26. 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 company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 14.49 and a beta of 0.67. Stock Yards Bancorp has a 12-month low of $61.51 and a 12-month high of $83.83.
Stock Yards Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend 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%.
Institutional Trading of Stock Yards Bancorp
A number of hedge funds and other institutional investors have recently modified their holdings of SYBT. Quarry LP acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth about $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth about $45,000. Empowered Funds LLC acquired a new stake in shares of Stock Yards Bancorp during the 4th quarter worth about $60,000. Advisory Services Network LLC acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth about $124,000. Finally, Sei Investments Co. acquired a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth about $207,000. 56.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on SYBT shares. Piper Sandler restated a “neutral” rating and issued a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a report on Friday, January 30th. Zacks Research downgraded Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Hovde Group raised Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, March 6th. Finally, Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.50.
Read Our Latest Research Report on SYBT
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.