Stock Yards Bancorp (NASDAQ:SYBT) Upgraded at Zacks Research

Zacks Research upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other equities analysts have also commented on SYBT. Wall Street Zen lowered Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Hovde Group lifted their price target on Stock Yards Bancorp from $73.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Piper Sandler reissued a “neutral” rating and set a $76.00 price objective (up previously from $75.00) on shares of Stock Yards Bancorp in a report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.00.

Stock Yards Bancorp Price Performance

Shares of Stock Yards Bancorp stock opened at $69.54 on Monday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.64 and a beta of 0.72. The firm’s 50-day moving average price is $67.55 and its two-hundred day moving average price is $70.69. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. 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 announced its earnings results on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. Stock Yards Bancorp had a return on equity of 13.91% and a net margin of 24.83%. On average, equities analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

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

Institutional Investors Weigh In On Stock Yards Bancorp

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

Stock Yards Bancorp Company Profile

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.