Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives $50.00 Average Price Target from Analysts

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have been assigned a consensus rating of “Hold” from the four ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $50.00.

Several brokerages have commented on SYBT. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 target price (up from $53.00) on shares of Stock Yards Bancorp in a report on Thursday, April 25th. Hovde Group began coverage on shares of Stock Yards Bancorp in a report on Monday, March 4th. They set an “outperform” rating on the stock. Finally, Piper Sandler began coverage on shares of Stock Yards Bancorp in a report on Wednesday, March 6th. They set a “neutral” rating and a $52.00 target price on the stock.

Institutional Trading of Stock Yards Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in Stock Yards Bancorp by 21.5% during the first quarter. BNP Paribas Financial Markets now owns 24,531 shares of the bank’s stock worth $1,200,000 after buying an additional 4,342 shares during the last quarter. Diversified Trust Co increased its holdings in Stock Yards Bancorp by 34.3% during the first quarter. Diversified Trust Co now owns 9,910 shares of the bank’s stock worth $485,000 after buying an additional 2,530 shares during the last quarter. Chatham Capital Group Inc. increased its holdings in Stock Yards Bancorp by 11.6% during the first quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank’s stock worth $1,481,000 after buying an additional 3,140 shares during the last quarter. Independence Bank of Kentucky increased its holdings in Stock Yards Bancorp by 34.1% during the first quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank’s stock worth $693,000 after buying an additional 3,603 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Stock Yards Bancorp by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after buying an additional 33,906 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $45.99 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $1.35 billion, a P/E ratio of 12.92 and a beta of 0.81. The company’s 50 day moving average price is $45.51 and its two-hundred day moving average price is $46.37. Stock Yards Bancorp has a 52 week low of $36.93 and a 52 week high of $53.15.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were issued a $0.30 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 33.71%.

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.