Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives $76.75 Consensus PT from Brokerages

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $76.75.

Several equities research analysts have recently issued reports on SYBT shares. Piper Sandler reiterated a “neutral” rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Keefe, Bruyette & Woods upped their target price on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Stock Yards Bancorp in a research report on Friday, July 10th. Zacks Research cut shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Stephens lifted their price target on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd.

Insider Buying and Selling at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president directly owned 53,376 shares of the company’s stock, valued at approximately $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Stock Yards Bancorp

A number of large investors have recently added to or reduced their stakes in SYBT. Quarry LP bought a new position in shares of Stock Yards Bancorp during the 3rd quarter valued at approximately $28,000. Brown Brothers Harriman & Co. bought a new stake in Stock Yards Bancorp in the third quarter worth $45,000. GAMMA Investing LLC increased its position in Stock Yards Bancorp by 92.1% in the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after purchasing an additional 396 shares during the last quarter. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp during the fourth quarter valued at $60,000. Finally, Covestor Ltd raised its stake in Stock Yards Bancorp by 138.4% during the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after purchasing an additional 678 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT opened at $81.80 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a twelve month low of $61.51 and a twelve month high of $83.83. The business has a 50-day moving average price of $74.98 and a 200-day moving average price of $70.46. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 16.83 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The company had revenue of $102.63 million for the quarter, compared to the consensus estimate of $108.18 million. As a group, equities research analysts predict that Stock Yards Bancorp will post 5 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a dividend of $0.32 per share. The ex-dividend date was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.6%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.34%.

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.