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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned an average recommendation of “Hold” from the four analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $50.00.

SYBT has been the subject of several recent research reports. Hovde Group assumed coverage on shares of Stock Yards Bancorp in a research report on Monday, March 4th. They issued an “outperform” rating on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price objective (up from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday. Finally, Piper Sandler assumed coverage on shares of Stock Yards Bancorp in a research note on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 target price for the company.

Stock Yards Bancorp Stock Down 3.9 %

Shares of NASDAQ SYBT traded down $1.89 during mid-day trading on Thursday, reaching $46.22. The company had a trading volume of 44,598 shares, compared to its average volume of 77,797. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a 52-week low of $36.93 and a 52-week high of $53.15. The stock has a market cap of $1.36 billion, a P/E ratio of 12.54 and a beta of 0.81. The firm has a 50 day simple moving average of $45.71 and a two-hundred day simple moving average of $46.18.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, January 24th. The bank reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.04). The firm had revenue of $119.66 million during the quarter, compared to analysts’ expectations of $82.60 million. Stock Yards Bancorp had a net margin of 24.54% and a return on equity of 13.20%. Sell-side analysts predict that Stock Yards Bancorp will post 3.37 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were given a dividend of $0.30 per share. The ex-dividend date was Friday, March 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.60%. Stock Yards Bancorp’s payout ratio is 32.70%.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mariner LLC acquired a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth about $1,048,000. Soltis Investment Advisors LLC bought a new stake in Stock Yards Bancorp during the 3rd quarter valued at $275,000. Firethorn Wealth Partners LLC boosted its position in Stock Yards Bancorp by 24.0% during the 4th quarter. Firethorn Wealth Partners LLC now owns 15,482 shares of the bank’s stock worth $797,000 after acquiring an additional 3,000 shares during the period. UBS Group AG grew its stake in shares of Stock Yards Bancorp by 70.4% in the third quarter. UBS Group AG now owns 51,213 shares of the bank’s stock worth $2,012,000 after purchasing an additional 21,153 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in Stock Yards Bancorp by 31.1% in the fourth quarter. Diversified Trust Co now owns 7,380 shares of the bank’s stock worth $380,000 after purchasing an additional 1,750 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.