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

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have been given an average recommendation of “Hold” by the six research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $76.00.

Several research firms have commented on SYBT. Keefe, Bruyette & Woods raised their target price on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Stephens raised their price target on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Piper Sandler restated a “neutral” rating and issued a $78.00 price target (up from $76.00) on shares of Stock Yards Bancorp in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th.

Insider Buying and Selling at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D acquired a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at approximately $1,932,000. Citigroup Inc. boosted its stake in shares of Stock Yards Bancorp by 60.7% in the 3rd quarter. Citigroup Inc. now owns 61,128 shares of the bank’s stock valued at $4,278,000 after purchasing an additional 23,093 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Stock Yards Bancorp by 15.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 186,875 shares of the bank’s stock valued at $13,079,000 after purchasing an additional 24,686 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Stock Yards Bancorp by 146.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock valued at $7,376,000 after purchasing an additional 67,440 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its stake in shares of Stock Yards Bancorp by 37.7% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock valued at $86,928,000 after purchasing an additional 366,475 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Price Performance

SYBT stock opened at $71.72 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 12 month low of $61.51 and a 12 month high of $83.83. The firm has a market cap of $2.12 billion, a P/E ratio of 14.76 and a beta of 0.69. The company’s 50-day moving average price is $69.80 and its two-hundred day moving average price is $67.93.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The firm had revenue of $102.63 million for the quarter, compared to analyst estimates of $108.18 million. On average, analysts anticipate that Stock Yards Bancorp will post 5.1 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.34%.

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.