Analysts Set Stock Yards Bancorp, Inc. (NASDAQ:SYBT) PT at $88.00

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $88.00.

A number of analysts recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Stephens set a $87.00 price target on shares of Stock Yards Bancorp and gave the company an “equal weight” rating in a report on Thursday, July 30th. Raymond James Financial initiated coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th.

Insider Activity

In other news, Director Laura L. Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the transaction, the director directly owned 9,580 shares in the company, valued at approximately $826,658.20. This trade represents a 41.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Stock Yards Bancorp in the 2nd quarter worth approximately $165,219,000. Field & Main Bank purchased a new stake in Stock Yards Bancorp during the second quarter valued at approximately $82,676,000. The Manufacturers Life Insurance Company purchased a new stake in Stock Yards Bancorp during the second quarter valued at approximately $15,848,000. Marshall Wace LLP lifted its position in Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock valued at $11,561,000 after acquiring an additional 155,512 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Stock Yards Bancorp in the second quarter valued at approximately $11,330,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of SYBT stock opened at $81.93 on Monday. Stock Yards Bancorp has a twelve month low of $61.51 and a twelve month high of $89.21. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 16.32 and a beta of 0.68. The stock has a fifty day simple moving average of $79.89 and a two-hundred day simple moving average of $72.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. The business had revenue of $114.71 million for the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%. On average, analysts predict that Stock Yards Bancorp will post 5.14 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be given a dividend of $0.33 per share. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, September 21st. This represents a $1.32 annualized dividend and a yield of 1.6%. Stock Yards Bancorp’s payout ratio is 25.50%.

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.