Hovde Group Issues Positive Forecast for Stock Yards Bancorp (NASDAQ:SYBT) Stock Price

Stock Yards Bancorp (NASDAQ:SYBT) had its target price boosted by Hovde Group from $73.00 to $75.00 in a research report released on Thursday morning, MarketBeat Ratings reports. Hovde Group currently has a market perform rating on the bank’s stock.

SYBT has been the subject of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Stock Yards Bancorp presently has a consensus rating of “Hold” and a consensus target price of $81.50.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $66.94 on Thursday. Stock Yards Bancorp has a fifty-two week low of $60.75 and a fifty-two week high of $83.83. The stock’s 50-day moving average is $67.34 and its two-hundred day moving average is $71.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $1.97 billion, a P/E ratio of 14.09 and a beta of 0.69.

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

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, December 15th. Stock Yards Bancorp’s dividend payout ratio is currently 26.95%.

Insiders Place Their Bets

In related news, Director David L. Hardy bought 2,000 shares of Stock Yards Bancorp stock in a transaction on Thursday, November 6th. The shares were purchased at an average price of $66.53 per share, for a total transaction of $133,060.00. Following the completion of the acquisition, the director owned 2,000 shares in the company, valued at approximately $133,060. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SYBT. Quarry LP bought a new position in shares of Stock Yards Bancorp during the third quarter worth $28,000. Brown Brothers Harriman & Co. acquired a new stake in Stock Yards Bancorp during the 3rd quarter worth $45,000. GAMMA Investing LLC lifted its holdings 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 in the last quarter. Huntington National Bank lifted its holdings in Stock Yards Bancorp by 1,405.6% during the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after acquiring an additional 1,012 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Stock Yards Bancorp during the third quarter worth about $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.