Stock Yards Bancorp (NASDAQ:SYBT) Given “Market Perform” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Stock Yards Bancorp (NASDAQ:SYBT) in a research report released on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a $54.00 price objective on the bank’s stock, up from their prior price objective of $53.00.

Several other brokerages also recently commented on SYBT. Piper Sandler began coverage on Stock Yards Bancorp in a research note on Wednesday, March 6th. They set a neutral rating and a $52.00 target price for the company. Hovde Group began coverage on Stock Yards Bancorp in a research note on Monday, March 4th. They set an outperform rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $50.00.

Stock Yards Bancorp Stock Down 0.5 %

Shares of NASDAQ:SYBT traded down $0.25 during mid-day trading on Thursday, reaching $45.93. 21,914 shares of the stock were exchanged, compared to its average volume of 78,227. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.35 billion, a P/E ratio of 12.97 and a beta of 0.81. Stock Yards Bancorp has a one year low of $36.93 and a one year high of $53.15. The stock’s 50 day simple moving average is $45.66 and its 200-day simple moving average is $46.18.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). The company had revenue of $119.66 million during the quarter, compared to the consensus estimate of $82.60 million. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.70%. As a group, equities research analysts predict that Stock Yards Bancorp will post 3.4 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, March 15th. This represents a $1.20 annualized dividend and a yield of 2.61%. Stock Yards Bancorp’s payout ratio is currently 33.71%.

Institutional Trading of Stock Yards Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC raised its holdings in Stock Yards Bancorp by 1.3% in the 4th quarter. Thoroughbred Financial Services LLC now owns 23,104 shares of the bank’s stock valued at $1,189,000 after acquiring an additional 302 shares in the last quarter. Raymond James & Associates raised its holdings in Stock Yards Bancorp by 3.7% in the 4th quarter. Raymond James & Associates now owns 8,775 shares of the bank’s stock valued at $452,000 after acquiring an additional 314 shares in the last quarter. Swiss National Bank lifted its position in shares of Stock Yards Bancorp by 1.2% during the 3rd quarter. Swiss National Bank now owns 61,323 shares of the bank’s stock worth $2,409,000 after buying an additional 700 shares during the last quarter. Baldwin Brothers LLC MA lifted its position in shares of Stock Yards Bancorp by 6.2% during the 4th quarter. Baldwin Brothers LLC MA now owns 12,030 shares of the bank’s stock worth $619,000 after buying an additional 700 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Stock Yards Bancorp by 70.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock worth $99,000 after buying an additional 799 shares during the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

About Stock Yards Bancorp

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.