Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives $79.00 Average Target Price from Analysts

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have been assigned a consensus rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $79.00.

A number of research analysts have commented on SYBT shares. Piper Sandler reiterated a “neutral” rating and set a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Wall Street Zen lowered Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Zacks Research upgraded Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, Hovde Group lifted their target price on Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Stock Yards Bancorp by 0.9% during the third quarter. Vanguard Group Inc. now owns 1,945,817 shares of the bank’s stock worth $136,188,000 after acquiring an additional 17,055 shares during the period. Stock Yards Bank & Trust Co. grew its stake in Stock Yards Bancorp by 37.7% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after buying an additional 366,475 shares during the last quarter. Curi Capital LLC increased its position in Stock Yards Bancorp by 2.4% in the second quarter. Curi Capital LLC now owns 262,990 shares of the bank’s stock worth $20,823,000 after buying an additional 6,275 shares during the period. Aptus Capital Advisors LLC lifted its stake in Stock Yards Bancorp by 0.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank’s stock valued at $12,191,000 after buying an additional 816 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Stock Yards Bancorp by 47.2% during the third quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock valued at $12,859,000 after acquiring an additional 58,942 shares during the period. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Up 1.3%

Shares of Stock Yards Bancorp stock opened at $66.78 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.99. Stock Yards Bancorp has a 1-year low of $60.75 and a 1-year high of $83.83. The business has a 50-day moving average of $67.89 and a 200-day moving average of $69.91. The company has a market capitalization of $1.97 billion, a PE ratio of 14.06 and a beta of 0.72.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $104.47 million during the quarter, compared to analysts’ expectations of $102.42 million. Stock Yards Bancorp had a return on equity of 13.91% and a net margin of 24.83%. As a group, equities analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio is 26.95%.

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.