Stock Yards Bancorp (NASDAQ:SYBT) PT Raised to $68.00

Stock Yards Bancorp (NASDAQ:SYBT) had its target price hoisted by Hovde Group from $53.00 to $68.00 in a report published on Wednesday morning, Marketbeat reports. The brokerage currently has an outperform rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods restated a market perform rating and issued a $54.00 price objective (up from $53.00) on shares of Stock Yards Bancorp in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $62.50.

Stock Yards Bancorp Price Performance

NASDAQ SYBT opened at $63.27 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.77 and a beta of 0.83. Stock Yards Bancorp has a 1-year low of $36.93 and a 1-year high of $64.51. The business’s fifty day moving average price is $49.98 and its 200-day moving average price is $47.92.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.84 by $0.10. The firm had revenue of $123.96 million during the quarter, compared to analyst estimates of $83.90 million. Stock Yards Bancorp had a return on equity of 12.36% and a net margin of 21.99%. On average, equities analysts predict that Stock Yards Bancorp will post 3.59 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.90%. Stock Yards Bancorp’s payout ratio is presently 33.71%.

Insiders Place Their Bets

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $47.05, for a total value of $141,150.00. Following the completion of the sale, the director now owns 113,070 shares in the company, valued at approximately $5,319,943.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its holdings in shares of Stock Yards Bancorp by 121.7% during the 4th quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock valued at $79,000 after purchasing an additional 840 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings 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 valued at $99,000 after purchasing an additional 799 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Stock Yards Bancorp during the 4th quarter valued at about $165,000. Quantbot Technologies LP bought a new position in shares of Stock Yards Bancorp during the 1st quarter valued at about $195,000. Finally, German American Bancorp Inc. bought a new position in shares of Stock Yards Bancorp during the 4th quarter valued at about $230,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

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.