Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock Rated “Hold” by Wall Street Brokerages

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned an average recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $89.50.

A number of analysts have recently weighed in on SYBT shares. Piper Sandler reiterated a “neutral” rating and issued a $87.00 price objective (down from $90.00) on shares of Stock Yards Bancorp in a research note on Thursday. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $82.00 to $90.00 in a research report on Thursday, July 30th. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Keefe, Bruyette & Woods increased their price target on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Finally, Weiss Ratings raised Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $78.43 on Friday. Stock Yards Bancorp has a twelve month low of $61.51 and a twelve month high of $89.21. The company’s 50 day moving average is $78.29 and its 200 day moving average is $73.82. 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 market cap of $2.44 billion, a PE ratio of 15.11 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 28th. The bank reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Stock Yards Bancorp had a net margin of 25.89% and a return on equity of 13.73%. The company had revenue of $120.32 million during the quarter, compared to analyst estimates of $119.31 million. On average, sell-side analysts forecast that Stock Yards Bancorp will post 5.24 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 21st were issued a $0.33 dividend. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, September 21st. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. Stock Yards Bancorp’s payout ratio is presently 25.43%.

Institutional Trading of Stock Yards Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of SYBT. Global Retirement Partners LLC purchased a new position in Stock Yards Bancorp during the second quarter valued at approximately $31,000. Versant Capital Management Inc lifted its holdings in Stock Yards Bancorp by 145.8% in the third quarter. Versant Capital Management Inc now owns 413 shares of the bank’s stock valued at $32,000 after acquiring an additional 245 shares during the period. Richardson Financial Services Inc. boosted its position in Stock Yards Bancorp by 60.8% in the 3rd quarter. Richardson Financial Services Inc. now owns 553 shares of the bank’s stock worth $43,000 after purchasing an additional 209 shares in the last quarter. Allworth Financial LP purchased a new stake in Stock Yards Bancorp in the 2nd quarter worth approximately $73,000. Finally, Fifth Third Bancorp purchased a new stake in Stock Yards Bancorp in the 1st quarter worth approximately $85,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc (NASDAQ:SYBT) is a financial holding company headquartered in Louisville, Kentucky. It is the parent company of Stock Yards Bank & Trust Company, a full-service community bank founded in 1904.

Through Stock Yards Bank & Trust, the company provides commercial and retail banking services to individuals, businesses, and institutions. Its offerings include deposit accounts, commercial and consumer lending, residential mortgage lending, treasury management, online and mobile banking, and other traditional banking products.

The company also provides wealth management, trust, investment management, and brokerage services.