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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned an average rating of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $79.00.

Several equities analysts have commented on SYBT shares. Piper Sandler reiterated a “neutral” rating and issued a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Hovde Group upped their target price on shares of Stock Yards Bancorp from $73.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Zacks Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday.

Stock Yards Bancorp Stock Down 4.0%

Shares of NASDAQ SYBT opened at $64.14 on Monday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 13.50 and a beta of 0.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average of $67.79 and a two-hundred day moving average of $69.83. Stock Yards Bancorp has a 1 year low of $60.75 and a 1 year high of $83.83.

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

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Stock Yards Bancorp’s dividend payout ratio is 26.95%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SYBT. Vanguard Group Inc. boosted its holdings in shares of Stock Yards Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 1,945,817 shares of the bank’s stock valued at $136,188,000 after acquiring an additional 17,055 shares during the period. Stock Yards Bank & Trust Co. increased its holdings in shares of Stock Yards Bancorp by 37.7% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock valued at $86,928,000 after acquiring an additional 366,475 shares during the period. Curi Capital LLC increased its holdings in shares of Stock Yards Bancorp by 2.4% in the 2nd quarter. Curi Capital LLC now owns 262,990 shares of the bank’s stock valued at $20,823,000 after acquiring an additional 6,275 shares during the period. Aptus Capital Advisors LLC raised its position in Stock Yards Bancorp by 0.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank’s stock valued at $12,191,000 after purchasing an additional 816 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Stock Yards Bancorp by 47.2% during the 3rd quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock worth $12,859,000 after purchasing an additional 58,942 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.