Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives Average Rating of “Hold” from Analysts

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $88.00.

A number of analysts have issued reports on SYBT shares. Stephens set a $87.00 price target on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods upped their price objective on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Piper Sandler reiterated a “neutral” rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Raymond James Financial started coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating for the company.

Stock Yards Bancorp Price Performance

SYBT stock opened at $78.95 on Friday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 15.73 and a beta of 0.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a 52-week low of $61.51 and a 52-week high of $89.21. The stock’s fifty day simple moving average is $81.17 and its 200-day simple moving average is $73.78.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, beating 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 firm had revenue of $114.71 million during the quarter, compared to analyst estimates of $111.66 million. Equities research analysts expect that Stock Yards Bancorp will post 5.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be paid a dividend of $0.33 per share. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, September 21st. Stock Yards Bancorp’s payout ratio is 25.50%.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director Laura Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $86.29, for a total value of $588,756.67. Following the transaction, the director 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 through this link. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Stock Yards Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of Stock Yards Bancorp by 9,053.1% in the 2nd quarter. California State Teachers Retirement System now owns 2,410,105 shares of the bank’s stock valued at $184,301,000 after purchasing an additional 2,383,774 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth about $165,219,000. Field & Main Bank acquired a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $82,676,000. The Manufacturers Life Insurance Company acquired a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $15,848,000. Finally, Marshall Wace LLP raised its holdings in Stock Yards Bancorp by 691.5% in the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock valued at $11,561,000 after buying an additional 155,512 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

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.