Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives $50.00 Consensus Price Target from Analysts

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have received a consensus recommendation of “Hold” from the four brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $50.00.

Several analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 price objective (up previously from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday, April 25th. Piper Sandler initiated 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. Finally, Hovde Group initiated coverage on Stock Yards Bancorp in a report on Monday, March 4th. They set an “outperform” rating for the company.

Institutional Investors Weigh In On Stock Yards Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Stock Yards Bancorp by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after purchasing an additional 33,906 shares during the period. Dimensional Fund Advisors LP grew its stake in Stock Yards Bancorp by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 905,258 shares of the bank’s stock worth $46,612,000 after purchasing an additional 35,851 shares during the period. RMB Capital Management LLC grew its stake in Stock Yards Bancorp by 49.7% in the fourth quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after purchasing an additional 74,132 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Stock Yards Bancorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 212,174 shares of the bank’s stock worth $10,925,000 after purchasing an additional 2,694 shares during the period. Finally, Norges Bank purchased a new stake in shares of Stock Yards Bancorp in the fourth quarter worth $9,100,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $45.99 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. Stock Yards Bancorp has a fifty-two week low of $36.93 and a fifty-two week high of $53.15. The stock has a 50 day moving average price of $45.51 and a two-hundred day moving average price of $46.37. The company has a market capitalization of $1.35 billion, a P/E ratio of 12.92 and a beta of 0.81.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, March 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Stock Yards Bancorp’s dividend 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.