Stock Yards Bancorp’s (SYBT) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Stock Yards Bancorp (NASDAQ:SYBT) in a research report report published on Thursday, Benzinga reports. They currently have a $54.00 price target on the bank’s stock, up from their prior price target of $53.00.

A number of other analysts have also weighed in on SYBT. Hovde Group assumed coverage on Stock Yards Bancorp in a research report on Monday, March 4th. They set an outperform rating on the stock. Piper Sandler started coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They issued a neutral rating and a $52.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $50.00.

Stock Yards Bancorp Trading Down 0.1 %

NASDAQ SYBT opened at $46.15 on Thursday. Stock Yards Bancorp has a one year low of $36.93 and a one year high of $53.15. The firm has a 50 day simple moving average of $45.62 and a 200-day simple moving average of $46.30. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 12.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio is presently 33.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYBT. Signaturefd LLC lifted its stake in Stock Yards Bancorp by 121.7% during the fourth quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock worth $79,000 after purchasing an additional 840 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Stock Yards Bancorp by 70.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock worth $99,000 after purchasing an additional 799 shares in the last quarter. Covestor Ltd lifted its position in shares of Stock Yards Bancorp by 58.2% during the 3rd quarter. Covestor Ltd now owns 3,384 shares of the bank’s stock worth $133,000 after buying an additional 1,245 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Stock Yards Bancorp in the 4th quarter valued at $165,000. Finally, German American Bancorp Inc. purchased a new position in shares of Stock Yards Bancorp in the 4th quarter valued at $230,000. 56.46% of the stock is owned by institutional investors and hedge funds.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.