Stock Yds Bancorp Inc Stock Price, News & Analysis

Stock Yards Bancorp has announced its agreement to acquire Commonwealth Bancshares, creating Kentucky's premier community banking franchise. The deal, valued at approximately $153 million, comprises 80% stock and 20% cash. Upon completion, expected in Q4 2021, the combined entity will manage around $7.4 billion in assets and include 79 branches. The merger aims to enhance wealth management capabilities by adding $2.6 billion in trust assets, positioning Stock Yards as the largest bank-owned trust company in Kentucky.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) will participate in the Keefe, Bruyette & Woods’ Virtual Community Bank Investor Conference from August 3rd to 5th, 2021. CEO James A. Hillebrand and CFO T. Clay Stinnett will hold one-on-one meetings with institutional investors on August 4th. The conference materials will be available on the company’s investor relations website by August 4th. With $6.1 billion in assets, Stock Yards Bancorp is a key player in the Kentucky and Cincinnati banking markets.

Stock Yards Bancorp, Inc. (SYBT) reported a net income of $4.2 million ($0.17 per diluted share) for Q2 2021, down from $13.4 million ($0.59 per share) in Q2 2020. The quarter included $18.1 million in merger expenses from the Kentucky Bancshares acquisition, which added $1.3 billion in assets. Non-interest income reached a record $15.8 million, driven by strong wealth management and card income. Despite merger-related costs, strong organic loan growth of $81 million (3% QoQ) and a 25% YoY increase in non-interest income were noted. The company maintains a strong capital position with a tangible common equity ratio of 8.57%.

Stock Yards Bancorp (SYBT) has completed its acquisition of Kentucky Bancshares, enhancing its presence in central and eastern Kentucky. This merger integrates Kentucky Bank's 19 branches into Stock Yards, offering expanded lending capabilities and broader product offerings. Chairman James A. Hillebrand emphasized the merger's potential for solid growth opportunities and a platform for future expansion. Stock Yards, with assets of $4.8 billion, aims to leverage this acquisition for greater market reach and improved service delivery.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has declared a quarterly cash dividend of $0.27 per share, consistent with the previous quarter. This dividend will be paid on July 1, 2021, to stockholders on record as of June 21, 2021. Additionally, the company extended its stock repurchase plan's expiration to May 2023, having repurchased approximately 259,000 shares at an average cost of $35.41 per share since the plan's initiation in May 2019. The plan allows repurchases without obligation for a specific amount or number of shares.

Stock Yards Bancorp (SYBT) reported record earnings for Q1 2021, with net income soaring 72% to $22.7 million, or $0.99 per share, fueled by core deposit growth and significant income from the SBA's PPP. Total loans rose 24% to $3.6 billion, and deposits increased by $1 billion over the past year. The company also announced an agreement to acquire Kentucky Bancshares, enhancing its market presence. However, net interest margin contracted to 3.39%, reflecting lower interest rates.

On March 11, 2021, Stock Yards Bancorp (NASDAQ: SYBT) announced that CEO James A. Hillebrand and CFO T. Clay Stinnett will hold virtual meetings with institutional investors on March 18, 2021, moderated by Raymond James. Discussion materials will be available on the company’s website by that date. Based in Louisville, Kentucky, Stock Yards Bancorp manages $4.6 billion in assets and operates through its bank, established in 1904. Its shares are publicly traded on NASDAQ under the symbol SYBT.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has declared a quarterly cash dividend of $0.27 per share, consistent with the previous quarter. This dividend will be paid on April 1, 2021, to shareholders on record as of March 12, 2021. With total assets of $4.6 billion, Stock Yards Bancorp has been a significant player in the banking sector since its establishment. This announcement highlights the company’s commitment to returning value to its shareholders.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) announced that CEO James A. Hillebrand and CFO T. Clay Stinnett will participate in the Keefe, Bruyette & Woods' Virtual Winter Financial Services Symposium on February 10th and 11th, 2021. They will also hold one-on-one meetings with institutional investors. Discussion materials from the event will be available on the company's website, www.syb.com, by February 10th. Stock Yards Bancorp, headquartered in Louisville, Kentucky, has assets of $4.6 billion and is the parent of Stock Yards Bank & Trust Company, founded in 1904.