Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives $50.00 Average Price Target from Brokerages

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have been assigned a consensus rating of “Hold” from the four brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $50.00.

Several brokerages have weighed in on SYBT. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 target price (up from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday, April 25th. Hovde Group began coverage on Stock Yards Bancorp in a report on Monday, March 4th. They issued an “outperform” rating for the company. Finally, Piper Sandler started coverage on Stock Yards Bancorp in a research note on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price objective on the stock.

Stock Yards Bancorp Price Performance

SYBT opened at $47.67 on Monday. Stock Yards Bancorp has a fifty-two week low of $36.93 and a fifty-two week high of $53.15. The firm has a 50-day moving average of $46.20 and a 200 day moving average of $47.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $1.40 billion, a P/E ratio of 13.39 and a beta of 0.83.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 24th. The bank reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.51%. The firm had revenue of $83.44 million during the quarter, compared to the consensus estimate of $83.00 million. On average, research analysts expect that Stock Yards Bancorp will post 3.49 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.52%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 33.71%.

Insiders Place Their Bets

In other news, Director David P. Heintzman sold 3,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $47.05, for a total transaction of $141,150.00. Following the sale, the director now directly owns 113,070 shares in the company, valued at $5,319,943.50. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Barlow Wealth Partners Inc. purchased a new position in Stock Yards Bancorp during the fourth quarter worth about $3,226,000. Mariner LLC purchased a new stake in Stock Yards Bancorp in the third quarter valued at approximately $1,048,000. Soltis Investment Advisors LLC purchased a new stake in Stock Yards Bancorp in the third quarter valued at approximately $275,000. Firethorn Wealth Partners LLC lifted its position in Stock Yards Bancorp by 24.0% during the fourth quarter. Firethorn Wealth Partners LLC now owns 15,482 shares of the bank’s stock valued at $797,000 after purchasing an additional 3,000 shares during the last quarter. Finally, UBS Group AG grew its stake in Stock Yards Bancorp by 70.4% in the 3rd quarter. UBS Group AG now owns 51,213 shares of the bank’s stock worth $2,012,000 after buying an additional 21,153 shares in the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.