Stock Yards Bancorp(SYBT) ZACKS·2024-11-05 18:00Core Viewpoint - Stock Yards Bancorp (SYBT) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3][10] Earnings Estimates and Revisions - For the fiscal year ending December 2024, Stock Yards is expected to earn $3.76 per share, reflecting a 2.7% increase from the previous year [8] - Over the past three months, the Zacks Consensus Estimate for Stock Yards has increased by 2.9%, indicating a trend of rising earnings estimates [8] Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating, highlighting superior earnings estimate revisions [9][10] - The Zacks Rank 2 upgrade places Stock Yards in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10] Impact of Earnings on Stock Prices - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [4][6] - Institutional investors utilize earnings estimates to assess fair value, influencing their buying and selling decisions, which in turn affects stock prices [4]