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

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

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

Stock Yards Bancorp Price Performance

Stock Yards Bancorp stock opened at $46.70 on Monday. Stock Yards Bancorp has a one year low of $36.93 and a one year high of $53.15. The business has a fifty day moving average price of $46.32 and a 200-day moving average price of $47.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $1.37 billion, a P/E ratio of 13.12 and a beta of 0.83.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. Stock Yards Bancorp had a return on equity of 12.51% and a net margin of 22.86%. The company had revenue of $83.44 million for the quarter, compared to the consensus estimate of $83.00 million. As a group, equities research analysts forecast that Stock Yards Bancorp will post 3.49 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, June 17th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 33.71%.

Insider Transactions at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $47.05, for a total transaction of $141,150.00. Following the transaction, the director now directly owns 113,070 shares in the company, valued at $5,319,943.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of SYBT. Bank of New York Mellon Corp boosted its stake in shares of Stock Yards Bancorp by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 163,058 shares of the bank’s stock valued at $6,407,000 after purchasing an additional 984 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Stock Yards Bancorp by 35.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,958 shares of the bank’s stock valued at $273,000 after purchasing an additional 1,836 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Stock Yards Bancorp by 27.9% during the third quarter. Victory Capital Management Inc. now owns 11,857 shares of the bank’s stock valued at $466,000 after purchasing an additional 2,587 shares in the last quarter. Versor Investments LP boosted its stake in Stock Yards Bancorp by 69.9% in the third quarter. Versor Investments LP now owns 8,751 shares of the bank’s stock valued at $344,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Stock Yards Bancorp by 1.2% in the third quarter. Swiss National Bank now owns 61,323 shares of the bank’s stock valued at $2,409,000 after acquiring an additional 700 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Company Profile

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.