Brokerages Set Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Target Price at $50.00

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have earned an average rating of “Hold” from the four analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.00.

SYBT has been the topic of a number of analyst reports. Hovde Group began coverage on Stock Yards Bancorp in a research note on Monday, March 4th. They set an “outperform” rating on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $54.00 price target (up from $53.00) on shares of Stock Yards Bancorp in a report on Thursday, April 25th. Finally, Piper Sandler assumed coverage on shares of Stock Yards Bancorp in a research note on Wednesday, March 6th. They set a “neutral” rating and a $52.00 price objective on the stock.

Stock Yards Bancorp Stock Down 1.5 %

SYBT opened at $45.46 on Thursday. Stock Yards Bancorp has a one year low of $36.93 and a one year high of $53.15. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 12.77 and a beta of 0.81. The business’s fifty day moving average is $45.57 and its two-hundred day moving average is $46.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 33.71%.

Institutional Trading of Stock Yards Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYBT. Diversified Trust Co lifted its position in shares of Stock Yards Bancorp by 34.3% in the 1st quarter. Diversified Trust Co now owns 9,910 shares of the bank’s stock valued at $485,000 after acquiring an additional 2,530 shares in the last quarter. Chatham Capital Group Inc. lifted its holdings in shares of Stock Yards Bancorp by 11.6% in the first quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank’s stock valued at $1,481,000 after purchasing an additional 3,140 shares in the last quarter. Independence Bank of Kentucky boosted its position in shares of Stock Yards Bancorp by 34.1% in the first quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank’s stock worth $693,000 after buying an additional 3,603 shares during the period. Vanguard Group Inc. grew its holdings in shares of Stock Yards Bancorp by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock valued at $91,998,000 after buying an additional 33,906 shares in the last quarter. Finally, RMB Capital Management LLC grew its holdings in shares of Stock Yards Bancorp by 49.7% during the fourth quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock valued at $11,494,000 after buying an additional 74,132 shares in the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

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.