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

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $76.75.

Several research firms recently issued reports on SYBT. Keefe, Bruyette & Woods upped their price target on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Friday, March 6th. Finally, Stephens upped their price target on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd.

Insider Transactions at Stock Yards Bancorp

In related news, President Philip Poindexter sold 1,221 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president directly owned 53,376 shares of the company’s stock, valued at $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Stock Yards Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after purchasing an additional 2,297 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Stock Yards Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 658 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Stock Yards Bancorp by 28.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after purchasing an additional 11,758 shares during the last quarter. Jane Street Group LLC bought a new stake in Stock Yards Bancorp during the first quarter valued at $3,400,000. Finally, Cetera Investment Advisers bought a new stake in Stock Yards Bancorp during the second quarter valued at $365,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Trading Up 0.6%

NASDAQ SYBT opened at $76.31 on Friday. The company’s fifty day simple moving average is $72.11 and its 200-day simple moving average is $68.91. Stock Yards Bancorp has a 52 week low of $61.51 and a 52 week high of $83.83. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.25 billion, a P/E ratio of 15.70 and a beta of 0.69.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The business had revenue of $102.63 million for the quarter, compared to analysts’ expectations of $108.18 million. Equities research analysts predict that Stock Yards Bancorp will post 5.1 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.7%. Stock Yards Bancorp’s dividend payout ratio is currently 26.34%.

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.