Stock Yards Bancorp (NASDAQ:SYBT) Price Target Raised to $70.00

Stock Yards Bancorp (NASDAQ:SYBT) had its target price upped by Stephens from $67.00 to $70.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

A number of other analysts have also commented on SYBT. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Friday, March 6th. Weiss Ratings upgraded shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Piper Sandler restated 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. Zacks Research downgraded shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Stock Yards Bancorp from $79.00 to $80.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $75.50.

Stock Yards Bancorp Trading Up 0.1%

Shares of NASDAQ:SYBT opened at $70.49 on Thursday. 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. The company has a market cap of $2.08 billion, a P/E ratio of 14.50 and a beta of 0.67. The stock’s fifty day moving average price is $66.98 and its 200-day moving average price is $67.24.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. The company had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million. Stock Yards Bancorp had a return on equity of 13.78% and a net margin of 25.06%. Sell-side analysts expect that Stock Yards Bancorp will post 5.07 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. Stock Yards Bancorp’s dividend payout ratio is presently 26.34%.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors have recently made changes to their positions in SYBT. Huntington National Bank grew its position in Stock Yards Bancorp by 15.0% during the third quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock valued at $87,000 after buying an additional 163 shares during the period. Guidance Capital Inc. increased its holdings in Stock Yards Bancorp by 1.9% during the third quarter. Guidance Capital Inc. now owns 9,982 shares of the bank’s stock valued at $678,000 after buying an additional 186 shares during the last quarter. Raymond James Financial Inc. raised its position in Stock Yards Bancorp by 1.3% in the third quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock worth $1,306,000 after acquiring an additional 237 shares during the period. ProShare Advisors LLC raised its position in Stock Yards Bancorp by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock worth $312,000 after acquiring an additional 310 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Stock Yards Bancorp by 1.5% during the 2nd quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock worth $2,031,000 after acquiring an additional 383 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

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.