Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock Rated “Hold” by Sell-Side Analysts

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $88.00.

Several equities analysts have recently weighed in on SYBT shares. Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Stephens set a $87.00 target price on Stock Yards Bancorp and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $82.00 to $90.00 in a research report on Thursday, July 30th. Keefe, Bruyette & Woods raised their price target on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director Laura Wells sold 6,823 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the sale, the director directly owned 9,580 shares in the company, valued at $826,658.20. This trade represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of Stock Yards Bancorp by 119.6% during the 3rd quarter. GAMMA Investing LLC now owns 8,906 shares of the bank’s stock valued at $687,000 after buying an additional 4,850 shares during the period. Versant Capital Management Inc grew its holdings in shares of Stock Yards Bancorp by 145.8% during the 3rd quarter. Versant Capital Management Inc now owns 413 shares of the bank’s stock valued at $32,000 after acquiring an additional 245 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Stock Yards Bancorp by 18.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,581 shares of the bank’s stock valued at $2,109,000 after acquiring an additional 4,273 shares in the last quarter. Engineers Gate Manager LP increased its stake in shares of Stock Yards Bancorp by 30.2% in the second quarter. Engineers Gate Manager LP now owns 4,609 shares of the bank’s stock worth $352,000 after acquiring an additional 1,070 shares during the last quarter. Finally, TD Waterhouse Canada Inc. acquired a new position in shares of Stock Yards Bancorp in the second quarter worth $123,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

Stock Yards Bancorp stock opened at $75.98 on Tuesday. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $89.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.01 and a current ratio of 1.01. The business has a fifty day moving average of $80.05 and a two-hundred day moving average of $75.90. The company has a market cap of $2.36 billion, a P/E ratio of 15.14 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, beating the consensus estimate of $1.08 by $0.23. The business had revenue of $114.71 million for the quarter, compared to analyst estimates of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. As a group, analysts predict that Stock Yards Bancorp will post 5.21 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were issued a $0.33 dividend. The ex-dividend date was Monday, September 21st. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 26.29%.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a financial holding company headquartered in Louisville, Kentucky. Through its principal subsidiary, Stock Yards Bank & Trust Company, it provides commercial and retail banking services to individuals, businesses, and institutions.

The bank offers deposit accounts, commercial and consumer lending, residential mortgage services, treasury management, online and mobile banking, and other traditional financial products. It also provides wealth management and trust services, including investment management, fiduciary administration, financial planning, and estate-related services.

Founded in 1904, Stock Yards Bank has developed a regional presence serving communities in Kentucky, southern Indiana, the greater Cincinnati area, and Indianapolis.