Keefe, Bruyette & Woods Issues Positive Forecast for Stock Yards Bancorp (NASDAQ:SYBT) Stock Price

Stock Yards Bancorp (NASDAQ:SYBT) had its target price increased by Keefe, Bruyette & Woods from $82.00 to $94.00 in a report published on Friday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

SYBT has been the subject of a number of other reports. Stephens set a $87.00 target price on shares of Stock Yards Bancorp and gave the company an “equal weight” rating in a research report on Thursday. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $82.00 to $90.00 in a research report on Thursday. Wall Street Zen cut shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Piper Sandler reiterated a “neutral” rating and issued a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Finally, Raymond James Financial initiated coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating for the company. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.00.

Stock Yards Bancorp Stock Down 1.3%

Shares of SYBT opened at $85.10 on Friday. The stock has a 50 day moving average price of $76.44 and a 200 day moving average price of $71.11. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $89.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 16.95 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.23. The company had revenue of $114.67 million for the quarter, compared to analyst estimates of $111.66 million. Stock Yards Bancorp had a return on equity of 13.93% and a net margin of 25.41%. Equities research analysts forecast that Stock Yards Bancorp will post 5.06 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 25.50%.

Insider Activity at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in Stock Yards Bancorp by 44.8% during the second quarter. GAMMA Investing LLC now owns 4,056 shares of the bank’s stock worth $310,000 after purchasing an additional 1,255 shares during the last quarter. Quantinno Capital Management LP raised its stake in Stock Yards Bancorp by 24.9% during the first quarter. Quantinno Capital Management LP now owns 9,518 shares of the bank’s stock worth $631,000 after purchasing an additional 1,898 shares during the period. Entropy Technologies LP acquired a new position in Stock Yards Bancorp in the 1st quarter valued at about $247,000. Arrowstreet Capital Limited Partnership acquired a new position in Stock Yards Bancorp in the 1st quarter valued at about $1,677,000. Finally, Sei Investments Co. grew its stake in shares of Stock Yards Bancorp by 182.6% in the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock valued at $3,652,000 after buying an additional 35,592 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

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.