Analysts Set $40.00 Target Price for Stock Yards Bancorp Inc (SYBT)

Stock Yards Bancorp Inc (NASDAQ:SYBT) has been assigned an average broker rating score of 3.00 (Hold) from the four analysts that cover the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a hold recommendation.

Brokerages have set a 1 year consensus price target of $40.00 for the company and are predicting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Stock Yards Bancorp an industry rank of 37 out of 265 based on the ratings given to related companies.

A number of brokerages have recently commented on SYBT. Zacks Investment Research raised shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Wednesday, December 6th. BidaskClub downgraded shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th.

In other Stock Yards Bancorp news, insider Kathy C. Thompson sold 2,284 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $39.62, for a total transaction of $90,492.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David P. Heintzman sold 1,264 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $39.55, for a total transaction of $49,991.20. Following the sale, the chief executive officer now directly owns 165,809 shares in the company, valued at $6,557,745.95. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 3,148 shares of company stock worth $120,593 and have sold 9,372 shares worth $365,453. 6.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Stock Yards Bancorp in the third quarter worth $118,000. BNP Paribas Arbitrage SA increased its stake in shares of Stock Yards Bancorp by 784.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,095 shares of the bank’s stock worth $120,000 after acquiring an additional 2,745 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Stock Yards Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,596 shares of the bank’s stock worth $179,000 after acquiring an additional 687 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Stock Yards Bancorp by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock worth $223,000 after acquiring an additional 46 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Stock Yards Bancorp in the third quarter worth $233,000. 47.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of Stock Yards Bancorp (NASDAQ:SYBT) opened at $37.45 on Tuesday. Stock Yards Bancorp has a 52-week low of $31.90 and a 52-week high of $47.50. The company has a market capitalization of $856.95, a price-to-earnings ratio of 19.71 and a beta of 0.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Stock Yards Bancorp had a return on equity of 13.51% and a net margin of 28.57%. The company had revenue of $37.27 million during the quarter, compared to the consensus estimate of $37.81 million. During the same quarter in the prior year, the firm earned $0.46 EPS. sell-side analysts forecast that Stock Yards Bancorp will post 1.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 11th were paid a dividend of $0.21 per share. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, December 8th. Stock Yards Bancorp’s payout ratio is 44.21%.

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Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.

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