Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Given Average Rating of “Hold” by Analysts

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has received an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $76.75.

SYBT has been the topic of several recent analyst reports. Raymond James Financial assumed coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stock Yards Bancorp in a report on Friday, July 10th. Zacks Research cut shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Wall Street Zen lowered shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd.

Insider Activity

In related news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the transaction, the president owned 53,376 shares in the company, valued at $3,772,615.68. The trade was a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of large investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after acquiring an additional 2,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Stock Yards Bancorp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock worth $1,051,000 after acquiring an additional 658 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Stock Yards Bancorp by 28.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after acquiring an additional 11,758 shares in the last quarter. Jane Street Group LLC bought a new stake in Stock Yards Bancorp in the first quarter valued at $3,400,000. Finally, Cetera Investment Advisers bought a new stake in Stock Yards Bancorp in the second quarter valued at $365,000. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Price Performance

SYBT opened at $80.31 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $74.52 and its 200 day simple moving average is $70.28. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 16.52 and a beta of 0.68. Stock Yards Bancorp has a 1 year low of $61.51 and a 1 year high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.07. The firm had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. As a group, analysts predict that Stock Yards Bancorp will post 5 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

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

About Stock Yards Bancorp

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.