Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives $79.00 Consensus Target Price from Analysts

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $79.00.

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Piper Sandler reiterated a “neutral” rating and issued a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Hovde Group raised Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, March 6th. Wall Street Zen downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, March 8th. Finally, Zacks Research raised Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd.

Stock Yards Bancorp Stock Down 0.4%

Shares of NASDAQ:SYBT opened at $64.22 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.90 billion, a P/E ratio of 13.52 and a beta of 0.72. Stock Yards Bancorp has a 12 month low of $60.75 and a 12 month high of $83.83. The company’s 50-day moving average price is $66.90 and its two-hundred day moving average price is $67.90.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. The company had revenue of $104.47 million during the quarter, compared to the consensus estimate of $102.42 million. As a group, research analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th. Stock Yards Bancorp’s payout ratio is currently 26.95%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new stake in Stock Yards Bancorp in the third quarter valued at about $1,638,000. Citigroup Inc. lifted its stake in Stock Yards Bancorp by 60.7% in the third quarter. Citigroup Inc. now owns 61,128 shares of the bank’s stock valued at $4,278,000 after buying an additional 23,093 shares during the period. Aptus Capital Advisors LLC boosted its holdings in Stock Yards Bancorp by 15.2% during the third quarter. Aptus Capital Advisors LLC now owns 186,875 shares of the bank’s stock worth $13,079,000 after buying an additional 24,686 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Stock Yards Bancorp during the 3rd quarter worth about $1,932,000. Finally, Squarepoint Ops LLC grew its position in shares of Stock Yards Bancorp by 412.3% during the 2nd quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock worth $2,536,000 after buying an additional 25,845 shares during the period. Institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

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.