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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has been given an average recommendation of “Hold” by the six analysts that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $76.75.

Several research analysts recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Keefe, Bruyette & Woods lifted their price target on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Zacks Research lowered Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Stephens increased their target price on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $78.15 on Friday. The company has a market cap of $2.31 billion, a PE ratio of 16.08 and a beta of 0.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a twelve month low of $61.51 and a twelve month high of $83.83. The company’s 50 day moving average is $72.70 and its two-hundred day moving average is $69.23.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The company had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. Analysts anticipate that Stock Yards Bancorp will post 5.1 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp’s payout ratio is presently 26.34%.

Insider Activity at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the transaction, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SYBT. Quarry LP purchased a new position in Stock Yards Bancorp during the 3rd quarter valued at about $28,000. Brown Brothers Harriman & Co. purchased a new position in Stock Yards Bancorp in the third quarter valued at $45,000. GAMMA Investing LLC increased its holdings in shares of Stock Yards Bancorp by 92.1% in the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after acquiring an additional 396 shares during the last quarter. Empowered Funds LLC purchased a new position in Stock Yards Bancorp in the fourth quarter valued at approximately $60,000. Finally, Covestor Ltd grew its position in shares of Stock Yards Bancorp by 138.4% in the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after buying an additional 678 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.