Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock Has Consensus Target Price of $89.50

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned an average recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $89.50.

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Piper Sandler reiterated a “neutral” rating and set a $87.00 target price (down from $90.00) on shares of Stock Yards Bancorp in a report on Thursday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Stock Yards Bancorp in a report on Tuesday. Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SYBT. Bank of America Corp DE acquired a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $11,330,000. Corient Private Wealth LP bought a new position in Stock Yards Bancorp in the 2nd quarter worth about $1,047,000. Oxford Financial Group LTD. LLC bought a new stake in shares of Stock Yards Bancorp during the second quarter worth $11,063,000. BlackRock Inc. purchased a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at approximately $165,219,000. Finally, Sei Investments Co. grew its position in shares of Stock Yards Bancorp by 182.6% in the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock valued at $3,652,000 after buying an additional 35,592 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

SYBT stock opened at $79.26 on Friday. The company has a 50 day moving average price of $78.24 and a 200 day moving average price of $74.13. Stock Yards Bancorp has a fifty-two week low of $61.51 and a fifty-two week high of $89.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $2.46 billion, a PE ratio of 15.62 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 28th. The bank reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Stock Yards Bancorp had a net margin of 25.89% and a return on equity of 13.73%. The firm had revenue of $120.32 million for the quarter, compared to analyst estimates of $119.31 million. Analysts forecast that Stock Yards Bancorp will post 5.41 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were paid a $0.33 dividend. The ex-dividend date was Monday, September 21st. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. Stock Yards Bancorp’s dividend payout ratio is presently 25.43%.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc (NASDAQ:SYBT) is a financial holding company headquartered in Louisville, Kentucky. It is the parent company of Stock Yards Bank & Trust Company, a full-service community bank founded in 1904.

Through Stock Yards Bank & Trust, the company provides commercial and retail banking services to individuals, businesses, and institutions. Its offerings include deposit accounts, commercial and consumer lending, residential mortgage lending, treasury management, online and mobile banking, and other traditional banking products.

The company also provides wealth management, trust, investment management, and brokerage services.