Stock Yards Bancorp (NASDAQ:SYBT) Now Covered by Raymond James Financial

Raymond James Financial initiated coverage on shares of Stock Yards Bancorp (NASDAQ:SYBT) in a research report report published on Wednesday. The firm issued a market perform rating on the bank’s stock.

Several other research firms also recently commented on SYBT. Piper Sandler reaffirmed a “neutral” rating and issued a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Keefe, Bruyette & Woods lifted their price target on Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Wall Street Zen raised Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Stephens increased their price objective on Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.75.

Stock Yards Bancorp Stock Performance

SYBT opened at $75.37 on Wednesday. The business’s 50-day simple moving average is $73.04 and its 200 day simple moving average is $69.40. Stock Yards Bancorp has a 52-week low of $61.51 and a 52-week high of $83.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $2.22 billion, a PE ratio of 15.51 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, beating 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 company had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million. As a group, sell-side analysts expect that Stock Yards Bancorp will post 5.1 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a dividend of $0.32 per share. The ex-dividend date was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.7%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.34%.

Insiders Place Their Bets

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Stock Yards Bancorp

A number of large investors have recently bought and sold shares of SYBT. Quarry LP bought a new stake in shares of Stock Yards Bancorp during the third quarter valued at about $28,000. Brown Brothers Harriman & Co. purchased a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $45,000. GAMMA Investing LLC lifted its stake in Stock Yards Bancorp by 92.1% in the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after purchasing an additional 396 shares in the last quarter. Empowered Funds LLC bought a new position in Stock Yards Bancorp in the 4th quarter valued at $60,000. Finally, Covestor Ltd boosted its holdings in Stock Yards Bancorp by 138.4% in the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after purchasing an additional 678 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

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.