Brokerages Set $40.00 Target Price for Stock Yards Bancorp Inc (SYBT)
Shares of Stock Yards Bancorp Inc (NASDAQ:SYBT) have earned an average broker rating score of 3.00 (Hold) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1-year consensus target price of $40.00 for the company and are predicting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also given Stock Yards Bancorp an industry rank of 115 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently weighed in on the company. BidaskClub upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Zacks Investment Research cut shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $40.00 price target on shares of Stock Yards Bancorp in a report on Friday, January 26th.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Stock Yards Bancorp had a net margin of 24.39% and a return on equity of 13.45%. The firm had revenue of $38.57 million during the quarter, compared to analysts’ expectations of $38.01 million. sell-side analysts forecast that Stock Yards Bancorp will post 2.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 19th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, March 16th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.49%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 50.60%.
In related news, insider Kathy C. Thompson sold 2,500 shares of Stock Yards Bancorp stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.33, for a total value of $98,325.00. Following the completion of the sale, the insider now directly owns 39,940 shares in the company, valued at approximately $1,570,840.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Bickel III bought 2,510 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was bought at an average price of $38.15 per share, with a total value of $95,756.50. Following the completion of the purchase, the director now directly owns 4,250 shares in the company, valued at $162,137.50. The disclosure for this purchase can be found here. Insiders purchased a total of 2,697 shares of company stock valued at $102,826 over the last quarter. 6.20% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $118,000. SeaCrest Wealth Management LLC acquired a new stake in Stock Yards Bancorp in the 4th quarter worth approximately $206,000. GSA Capital Partners LLP acquired a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $233,000. Highbridge Capital Management LLC acquired a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $246,000. Finally, Teacher Retirement System of Texas acquired a new stake in Stock Yards Bancorp in the 4th quarter worth approximately $281,000. Institutional investors own 47.86% of the company’s stock.
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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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