Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives $50.00 Average PT from Analysts

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has received an average recommendation of “Hold” from the four ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $50.00.

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price objective (up from $53.00) on shares of Stock Yards Bancorp in a research note on Thursday. Piper Sandler initiated coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price target on the stock. Finally, Hovde Group assumed coverage on Stock Yards Bancorp in a research note on Monday, March 4th. They set an “outperform” rating for the company.

Stock Yards Bancorp Trading Down 0.1 %

SYBT opened at $46.15 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a 52 week low of $36.93 and a 52 week high of $53.15. The business’s 50 day moving average is $45.62 and its two-hundred day moving average is $46.22. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 12.96 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, January 24th. The bank reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). The business had revenue of $119.66 million during the quarter, compared to analyst estimates of $82.60 million. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.70%. On average, research analysts predict that Stock Yards Bancorp will post 3.44 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, March 15th. Stock Yards Bancorp’s payout ratio is 33.71%.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYBT. Norges Bank acquired a new position in shares of Stock Yards Bancorp during the 4th quarter worth $9,100,000. Meridian Wealth Management LLC boosted its holdings in Stock Yards Bancorp by 1,976.9% during the fourth quarter. Meridian Wealth Management LLC now owns 117,384 shares of the bank’s stock worth $6,044,000 after buying an additional 111,732 shares in the last quarter. RMB Capital Management LLC grew its position in Stock Yards Bancorp by 49.7% during the fourth quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after buying an additional 74,132 shares during the period. Barlow Wealth Partners Inc. purchased a new position in Stock Yards Bancorp in the fourth quarter valued at about $3,226,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Stock Yards Bancorp by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 905,258 shares of the bank’s stock valued at $46,612,000 after acquiring an additional 35,851 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.