Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives Average Recommendation of “Hold” from Brokerages

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned a consensus rating of “Hold” from the four analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $50.00.

Several equities analysts recently issued reports on SYBT shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 price target (up from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday. Hovde Group began coverage on Stock Yards Bancorp in a report on Monday, March 4th. They issued an “outperform” rating for the company. Finally, Piper Sandler began coverage on shares of Stock Yards Bancorp in a report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price objective for the company.

Hedge Funds Weigh In On Stock Yards Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co grew its stake in shares of Stock Yards Bancorp by 34.3% in the first quarter. Diversified Trust Co now owns 9,910 shares of the bank’s stock worth $485,000 after acquiring an additional 2,530 shares during the last quarter. Chatham Capital Group Inc. lifted its stake in shares of Stock Yards Bancorp by 11.6% in the first quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank’s stock worth $1,481,000 after buying an additional 3,140 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of Stock Yards Bancorp by 34.1% during the first quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank’s stock valued at $693,000 after acquiring an additional 3,603 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Stock Yards Bancorp by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after purchasing an additional 33,906 shares in the last quarter. Finally, RMB Capital Management LLC raised its stake in shares of Stock Yards Bancorp by 49.7% in the fourth quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after purchasing an additional 74,132 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of Stock Yards Bancorp stock traded down $1.89 during trading on Thursday, hitting $46.22. 44,598 shares of the stock traded hands, compared to its average volume of 77,797. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 12.54 and a beta of 0.81. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a 52 week low of $36.93 and a 52 week high of $53.15. The firm’s fifty day moving average is $45.71 and its 200-day moving average is $46.18.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Stock Yards Bancorp had a net margin of 24.54% and a return on equity of 13.20%. The business had revenue of $119.66 million during the quarter, compared to analysts’ expectations of $82.60 million. Research analysts expect that Stock Yards Bancorp will post 3.37 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio is presently 32.70%.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.