Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock Has Consensus Price Target of $88.00

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have been given an average recommendation of “Hold” by the seven research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $88.00.

SYBT has been the topic of a number of research analyst reports. Piper Sandler restated a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $82.00 to $90.00 in a report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Stephens set a $87.00 target price on shares of Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday, July 30th.

Stock Yards Bancorp Stock Down 1.1%

NASDAQ SYBT opened at $75.09 on Tuesday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 14.96 and a beta of 0.74. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $80.21 and a 200-day moving average of $75.74. Stock Yards Bancorp has a 1-year low of $61.51 and a 1-year high of $89.21.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%. The company had revenue of $114.71 million for the quarter, compared to analyst estimates of $111.66 million. On average, equities research analysts expect that Stock Yards Bancorp will post 5.21 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 21st were paid a $0.33 dividend. The ex-dividend date was Monday, September 21st. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.29%.

Insider Buying and Selling at Stock Yards Bancorp

In related news, Director Laura Wells sold 6,823 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the transaction, the director directly owned 9,580 shares in the company, valued at $826,658.20. This trade represents a 41.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Stock Yards Bancorp in the 2nd quarter worth approximately $165,219,000. Field & Main Bank bought a new position in shares of Stock Yards Bancorp in the second quarter valued at approximately $82,676,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Stock Yards Bancorp during the second quarter valued at approximately $15,848,000. Aptus Capital Advisors LLC grew its position in Stock Yards Bancorp by 0.4% during 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 period. Finally, Bank of America Corp DE bought a new position in Stock Yards Bancorp during the second quarter valued at $11,330,000. 56.46% of the stock is owned by institutional investors.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a financial holding company headquartered in Louisville, Kentucky. Through its principal subsidiary, Stock Yards Bank & Trust Company, it provides commercial and retail banking services to individuals, businesses, and institutions.

The bank offers deposit accounts, commercial and consumer lending, residential mortgage services, treasury management, online and mobile banking, and other traditional financial products. It also provides wealth management and trust services, including investment management, fiduciary administration, financial planning, and estate-related services.

Founded in 1904, Stock Yards Bank has developed a regional presence serving communities in Kentucky, southern Indiana, the greater Cincinnati area, and Indianapolis.