Stock Yards Bancorp Inc (SYBT) Receives Average Recommendation of “Hold” from Brokerages
Stock Yards Bancorp Inc (NASDAQ:SYBT) has been given a consensus broker rating score of 3.00 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four analysts have rated the stock with a hold recommendation.
Brokers have set a 1-year consensus price objective of $40.00 for the company and are anticipating that the company will post $0.50 EPS for the current quarter, according to Zacks. Zacks has also given Stock Yards Bancorp an industry rank of 200 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday.
In related news, CEO David P. Heintzman sold 1,264 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $39.55, for a total transaction of $49,991.20. Following the completion of the sale, the chief executive officer now directly owns 165,809 shares in the company, valued at approximately $6,557,745.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kathy C. Thompson sold 1,466 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $35.08, for a total value of $51,427.28. Following the sale, the insider now owns 40,161 shares of the company’s stock, valued at $1,408,847.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 299 shares of company stock valued at $10,996 and have sold 10,338 shares valued at $391,155. 6.20% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth $118,000. BNP Paribas Arbitrage SA lifted its position in shares of Stock Yards Bancorp by 784.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,095 shares of the bank’s stock worth $120,000 after buying an additional 2,745 shares during the last quarter. US Bancorp DE lifted its position in shares of Stock Yards Bancorp by 1.2% during the 2nd quarter. US Bancorp DE now owns 3,973 shares of the bank’s stock worth $155,000 after buying an additional 47 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Stock Yards Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,596 shares of the bank’s stock worth $179,000 after buying an additional 687 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Stock Yards Bancorp by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock worth $223,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 47.71% of the company’s stock.
Stock Yards Bancorp (NASDAQ SYBT) traded down $0.79 during trading hours on Friday, hitting $38.30. The stock had a trading volume of 32,731 shares, compared to its average volume of 42,969. The company has a market cap of $868.28, a P/E ratio of 20.68 and a beta of 0.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. Stock Yards Bancorp has a 1 year low of $31.90 and a 1 year high of $48.05.
Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 25th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $37.27 million during the quarter, compared to the consensus estimate of $37.81 million. Stock Yards Bancorp had a return on equity of 13.51% and a net margin of 28.57%. During the same period in the prior year, the company posted $0.46 EPS. analysts expect that Stock Yards Bancorp will post 1.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 11th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, December 8th. Stock Yards Bancorp’s dividend payout ratio is presently 42.11%.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
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