Stock Yards Bancorp (NASDAQ:SYBT) Posts Earnings Results, Beats Estimates By $0.23 EPS

Stock Yards Bancorp (NASDAQ:SYBT) posted its quarterly earnings results on Wednesday. The bank reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23, Zacks reports. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%.

Stock Yards Bancorp Trading Up 2.8%

SYBT stock traded up $2.39 during midday trading on Wednesday, reaching $87.81. The company’s stock had a trading volume of 154,991 shares, compared to its average volume of 171,493. The business’s 50-day simple moving average is $75.52 and its 200-day simple moving average is $70.73. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 52 week low of $61.51 and a 52 week high of $89.16. The stock has a market cap of $2.59 billion, a PE ratio of 18.10 and a beta of 0.68.

Stock Yards Bancorp Announces Dividend

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

Insider Activity

In related news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the transaction, the president owned 53,376 shares in the company, valued at approximately $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in shares of Stock Yards Bancorp by 47.2% during the 3rd quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock worth $12,859,000 after purchasing an additional 58,942 shares during the last quarter. Marshall Wace LLP increased its position in Stock Yards Bancorp by 691.5% during the 4th quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after purchasing an additional 155,512 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Stock Yards Bancorp by 7.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 138,300 shares of the bank’s stock worth $10,923,000 after purchasing an additional 10,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Stock Yards Bancorp by 60.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 137,147 shares of the bank’s stock worth $8,908,000 after buying an additional 51,567 shares during the period. Finally, Millennium Management LLC increased its position in shares of Stock Yards Bancorp by 211.2% during the fourth quarter. Millennium Management LLC now owns 131,842 shares of the bank’s stock worth $8,563,000 after buying an additional 89,470 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SYBT shares. Wall Street Zen lowered Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Raymond James Financial started coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They set a “hold” rating for the company. Stephens upped their price target on Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Stock Yards Bancorp in a research report on Friday, July 10th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $76.75.

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.