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

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

Several research analysts have recently issued reports on SYBT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Piper Sandler reaffirmed a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Wall Street Zen lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Hovde Group boosted 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.

Stock Yards Bancorp Price Performance

Stock Yards Bancorp stock opened at $69.33 on Monday. 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 has a one year low of $60.75 and a one year high of $83.83. The company has a market cap of $2.04 billion, a P/E ratio of 14.60 and a beta of 0.72. The business has a fifty day moving average of $68.04 and a two-hundred day moving average of $70.03.

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

Institutional Trading of Stock Yards Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYBT. Quarry LP purchased a new position in Stock Yards Bancorp during the third quarter worth approximately $28,000. Brown Brothers Harriman & Co. purchased a new stake in Stock Yards Bancorp during the third quarter valued at about $45,000. GAMMA Investing LLC increased its stake in Stock Yards Bancorp by 92.1% during the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after acquiring an additional 396 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Stock Yards Bancorp in the 4th quarter worth about $60,000. Finally, Covestor Ltd grew its holdings in shares of Stock Yards Bancorp by 138.4% during the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock worth $76,000 after purchasing an additional 678 shares during the period. Hedge funds and other institutional investors 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.