Overview

* Stock Yards Q2 net income rises to $34 mln, driven by loan growth

* Net interest income up 18% yr/yr, reflecting expanded net interest margin

* Company announces share repurchase plan for up to 1 mln shares

Outlook

* Company expects net interest margin to remain steady despite deposit competition

* Stock Yards Bancorp ( SYBT ) optimistic about Wealth Management & Trust momentum

Result Drivers

* LOAN GROWTH - $779 mln increase in total loans, with broad-based growth across markets and categories

* NET INTEREST MARGIN - Expanded by 27 basis points year-over-year, driven by strong asset growth and yield expansion

* DEPOSIT EXPANSION - Deposits grew $938 mln over the past 12 months, supported by a successful time deposit campaign

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $1.15

Q2 Net $34.02

Income mln

Q2 Net $73.47

Interest mln

Income

Q2 $2.18

Credit mln

Loss

Provisio

n

Q2 $0.31

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for Stock Yards Bancorp Inc ( SYBT ) is $80.00, about 2.6% above its July 22 closing price of $77.94

* The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)