Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Given Average Recommendation of “Hold” by Brokerages

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have received an average rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $79.00.

SYBT has been the topic of several recent research reports. Wall Street Zen lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday. Hovde Group increased their price target on Stock Yards Bancorp from $73.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SYBT. Quarry LP bought a new stake in Stock Yards Bancorp in the third quarter valued at approximately $28,000. Brown Brothers Harriman & Co. acquired a new position in shares of Stock Yards Bancorp in the 3rd quarter valued at $45,000. GAMMA Investing LLC increased its position in shares of Stock Yards Bancorp by 92.1% in the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after buying an additional 396 shares in the last quarter. Huntington National Bank raised its stake in Stock Yards Bancorp by 1,405.6% during the 2nd quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after buying an additional 1,012 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Stock Yards Bancorp during the third quarter worth about $92,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Up 1.7%

Shares of SYBT opened at $69.54 on Thursday. The business’s fifty day moving average price is $67.55 and its two-hundred day moving average price is $70.69. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.64 and a beta of 0.72. Stock Yards Bancorp has a 52 week low of $60.75 and a 52 week high of $83.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 0.99.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $104.47 million for the quarter, compared to analyst estimates of $102.42 million. Stock Yards Bancorp had a return on equity of 13.91% and a net margin of 24.83%. On average, analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, December 15th. Stock Yards Bancorp’s payout ratio is presently 26.95%.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.