Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives Consensus Recommendation of “Hold” from Analysts

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has been assigned an average rating of “Hold” from the four analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $50.00.

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

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $47.05, for a total value of $141,150.00. Following the completion of the sale, the director now directly owns 113,070 shares of the company’s stock, valued at $5,319,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SYBT. Orleans Capital Management Corp LA purchased a new stake in shares of Stock Yards Bancorp during the 1st quarter worth about $357,000. Price T Rowe Associates Inc. MD increased its holdings in Stock Yards Bancorp by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,341 shares of the bank’s stock worth $1,142,000 after buying an additional 977 shares during the last quarter. Bessemer Group Inc. raised its position in Stock Yards Bancorp by 7.8% during the first quarter. Bessemer Group Inc. now owns 15,555 shares of the bank’s stock valued at $760,000 after acquiring an additional 1,130 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Stock Yards Bancorp by 4.5% in the first quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock valued at $57,139,000 after acquiring an additional 50,730 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Stock Yards Bancorp by 85.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,341 shares of the bank’s stock worth $701,000 after acquiring an additional 6,590 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Up 0.6 %

NASDAQ SYBT opened at $46.70 on Monday. Stock Yards Bancorp has a 12 month low of $36.93 and a 12 month high of $53.15. The company has a market capitalization of $1.37 billion, a P/E ratio of 13.12 and a beta of 0.83. The company’s 50 day simple moving average is $46.32 and its 200 day simple moving average is $47.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88.

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

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, June 17th. This represents a $1.20 dividend on an annualized basis and a yield of 2.57%. Stock Yards Bancorp’s payout ratio is presently 33.71%.

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.