Overview
U.S. bank's Q4 net income rose 15% yr/yr, driven by loan and deposit growth
Net interest income for Q4 increased 13% yr/yr
Company's wealth management division achieved record results in Q4
Outlook
Company anticipates continued growth from geographic expansion and diversified footprint
Stock Yards Bancorp optimistic about Wealth Management & Trust division's momentum
Company committed to sustainable growth and managing interest rate impacts
Result Drivers
LOAN AND DEPOSIT GROWTH - Total loans increased 8% over the last 12 months, with deposit balances expanding 9%, driven by time deposit growth
NON-INTEREST INCOME - Non-interest income increased 7% year-over-year, with Wealth Management & Trust division achieving record results
NET INTEREST MARGIN - Net interest margin expanded 13 basis points year-over-year, driven by strong earning asset growth and a decline in the cost of interest-bearing liabilities
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 EPS | $1.24 | ||
Q4 Net Income | $36.61 mln | ||
Q4 Net Interest Income | $79.25 mln | ||
Q4 Credit Loss Provision | $1.65 mln | ||
Q4 Dividend | $0.32 |
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 is $76.00, about 11.7% above its January 26 closing price of $68.01
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nGNX4fYSqv
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(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.)