Stock Yds Bancorp Inc Stock Price, News & Analysis

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) reported first quarter 2023 earnings of $29.0 million, or $0.99 per diluted share, marking a significant increase from $7.9 million, or $0.29 per share, in Q1 2022. Key drivers of this performance include steady organic loan growth and a strong capital position. Total loans, excluding PPP loans, grew by $456 million, or 10%, year-over-year. Net interest income rose 29% to $63.1 million, while non-interest income increased 15% to $22.0 million. However, total deposits declined by $34 million quarter-over-quarter due to seasonal factors, but grew by $36 million excluding public funds. Despite challenges in the current economic environment, the company maintains a robust liquidity position with over $3 billion available. The company's tangible common equity ratio improved to 7.74%.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has declared a quarterly cash dividend of $0.29 per common share. This dividend is scheduled for payment on April 3, 2023, to shareholders on record as of March 20, 2023. Based in Louisville, Kentucky, Stock Yards Bancorp has $7.50 billion in assets and operates primarily through its subsidiary, Stock Yards Bank & Trust Company, established in 1904. The company plays a significant role in the banking markets of Kentucky, Indianapolis, and Cincinnati.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT), based in Louisville, Kentucky, will participate in the Keefe, Bruyette & Woods’ Winter Financial Services Conference on February 16-17, 2023. CEO Ja Hillebrand and CFO T. Clay Stinnett will engage in one-on-one meetings with institutional investors during this event. The company, founded in 1988 and parent of Stock Yards Bank & Trust Company, has assets totaling $7.50 billion. Management's discussion materials will be available on the investor section of their website, www.syb.com, by February 16, 2023.

Stock Yards Bancorp, parent company of Stock Yards Bank & Trust, announced participation in the Janney West Coast CEO Forum from February 1 to February 3, 2023. CEO Ja Hillebrand and CFO T. Clay Stinnett will engage in meetings with institutional investors during this event.

Management discussion materials will be available on the company’s investor website on or before February 1, 2023. Stock Yards Bancorp, based in Louisville, Kentucky, has approximately $7.50 billion in assets and trades under the symbol SYBT on NASDAQ.

Stock Yards Bancorp (NASDAQ: SYBT) reported record earnings for Q4 2022, with net income rising to $29.8 million ($1.01 per diluted share), a significant increase from $24.6 million ($0.92 per share) in Q4 2021. Key drivers included strong organic loan growth of $134 million and an expanded net interest margin (NIM) of 3.64%. Total net interest income reached $65.3 million, a 41% increase year-over-year. Despite a decline in total deposits by $110 million, total assets rose to $7.50 billion, reflecting continued strong performance across various loan categories and solid capital levels.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) announced a quarterly cash dividend of $0.29 per common share, set for payment on December 30, 2022. This dividend will benefit stockholders on record as of December 19, 2022. The company, based in Louisville, Kentucky, boasts assets totaling $7.55 billion and operates primarily in the Kentucky and Indiana markets, with its shares traded on NASDAQ.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has appointed Allison J. Donovan to its Boards of Directors, expanding the boards to 14 members. This move aligns with the company's board succession planning and leadership continuity as it prepares for an upcoming mandatory retirement. Donovan brings extensive banking and corporate law expertise, having previously served on another bank's board. She will be part of the Risk Committee and the Nominating and Corporate Governance Committee. Stock Yards Bancorp has $7.55 billion in assets and operates primarily in Kentucky and Indiana.