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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has been assigned a consensus rating of “Hold” from the four brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $50.00.

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

Institutional Investors Weigh In On Stock Yards Bancorp

Several large investors have recently modified their holdings of the stock. Diversified Trust Co lifted its stake in Stock Yards Bancorp by 34.3% during the first quarter. Diversified Trust Co now owns 9,910 shares of the bank’s stock valued at $485,000 after buying an additional 2,530 shares in the last quarter. Chatham Capital Group Inc. raised its holdings in shares of Stock Yards Bancorp by 11.6% during the first quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank’s stock valued at $1,481,000 after acquiring an additional 3,140 shares during the period. Independence Bank of Kentucky lifted its position in shares of Stock Yards Bancorp by 34.1% in the 1st quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank’s stock valued at $693,000 after acquiring an additional 3,603 shares in the last quarter. Vanguard Group Inc. boosted its stake in Stock Yards Bancorp by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after purchasing an additional 33,906 shares during the period. Finally, RMB Capital Management LLC boosted its stake in Stock Yards Bancorp by 49.7% in the 4th quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after purchasing an additional 74,132 shares during the period. 56.46% of the stock is owned by institutional investors.

Stock Yards Bancorp Trading Down 0.1 %

Shares of SYBT stock opened at $46.15 on Thursday. Stock Yards Bancorp has a 1 year low of $36.93 and a 1 year high of $53.15. The firm has a market capitalization of $1.36 billion, a PE ratio of 12.96 and a beta of 0.81. The stock has a fifty day moving average of $45.62 and a two-hundred day moving average of $46.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, January 24th. The bank reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). The company had revenue of $119.66 million for the quarter, compared to analyst estimates of $82.60 million. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.70%. As a group, research analysts expect that Stock Yards Bancorp will post 3.44 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.60%. The ex-dividend date was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio 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.