KBW is out with its report today on S.Y. Bancorp SYBT, raising its PT to $25.
In a note to clients, KBW writes, "SYBT maintained impressive core profitability as 1Q results were mostly in-line with our estimate and the Street. Asset quality stabilized as NPAs came in at 1.59%. NIM expanded to its highest level since 2008. SYBT continues to grow capital and easily justify its healthy $0.18 quarterly dividend. We are lowering our 2011 estimate on the miss, but are leaving 2012-2013 estimates alone; increasing PT."
KBW maintains Market Perform on SYBT.
Shares of SYBT clost Wednesday at $24.37.
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