Stock Yards Bancorp (NASDAQ:SYBT) Given New $80.00 Price Target at Keefe, Bruyette & Woods

Stock Yards Bancorp (NASDAQ:SYBT) had its price objective raised by Keefe, Bruyette & Woods from $79.00 to $80.00 in a report published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

SYBT has been the subject of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Friday, March 6th. Zacks Research downgraded shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a report on Friday, January 30th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of “Hold” and an average target price of $77.75.

Stock Yards Bancorp Stock Up 2.3%

Shares of NASDAQ SYBT opened at $71.55 on Thursday. The company has a 50 day simple moving average of $66.53 and a 200-day simple moving average of $67.22. The company has a market capitalization of $2.11 billion, a P/E ratio of 15.06 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.99 and a quick ratio of 0.99. Stock Yards Bancorp has a 1 year low of $61.51 and a 1 year high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $104.47 million during 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%. On average, equities research analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th were paid a $0.32 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. Stock Yards Bancorp’s payout ratio is 26.95%.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors have recently modified their holdings of SYBT. Stock Yards Bank & Trust Co. grew its stake in shares of Stock Yards Bancorp by 37.7% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after acquiring an additional 366,475 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Stock Yards Bancorp by 691.5% in the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after acquiring an additional 155,512 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Stock Yards Bancorp in the fourth quarter worth $7,461,000. Millennium Management LLC grew its stake in shares of Stock Yards Bancorp by 211.2% in the fourth quarter. Millennium Management LLC now owns 131,842 shares of the bank’s stock worth $8,563,000 after acquiring an additional 89,470 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Stock Yards Bancorp by 146.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock worth $7,376,000 after acquiring an additional 67,440 shares in the last quarter. 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.