Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives $79.00 Average Price Target from Analysts

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $79.00.

A number of brokerages have recently weighed in on SYBT. Wall Street Zen lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. Hovde Group upgraded Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, March 6th. 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 report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Finally, Zacks Research raised Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock opened at $62.79 on Friday. The company has a 50 day moving average price of $66.98 and a 200 day moving average price of $68.12. The firm has a market capitalization of $1.85 billion, a P/E ratio of 13.22 and a beta of 0.72. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 52 week low of $60.75 and a 52 week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. Sell-side analysts expect that Stock Yards Bancorp will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

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 is Monday, March 16th. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. Stock Yards Bancorp’s dividend payout ratio is currently 26.95%.

Hedge Funds Weigh In On Stock Yards Bancorp

Institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in shares of Stock Yards Bancorp in the third quarter worth $1,638,000. Citigroup Inc. lifted its position in Stock Yards Bancorp by 60.7% during the third quarter. Citigroup Inc. now owns 61,128 shares of the bank’s stock valued at $4,278,000 after purchasing an additional 23,093 shares during the period. Aptus Capital Advisors LLC boosted its holdings in Stock Yards Bancorp by 15.2% in the third quarter. Aptus Capital Advisors LLC now owns 186,875 shares of the bank’s stock valued at $13,079,000 after purchasing an additional 24,686 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Stock Yards Bancorp in the third quarter valued at $1,932,000. Finally, Squarepoint Ops LLC grew its position in Stock Yards Bancorp by 412.3% during the 2nd quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock worth $2,536,000 after purchasing an additional 25,845 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

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.