Brokerages Set Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Price Target at $76.00

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $76.00.

Several analysts have recently commented on the company. Stephens increased their price objective on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Wall Street Zen lowered Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Hovde Group upgraded 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. Finally, Piper Sandler restated a “neutral” rating and issued a $78.00 target price (up from $76.00) on shares of Stock Yards Bancorp in a research note on Monday, April 27th.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $69.24 on Friday. Stock Yards Bancorp has a 12 month low of $61.51 and a 12 month high of $83.83. The stock has a fifty day moving average price of $68.11 and a 200-day moving average price of $67.55. 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 firm has a market cap of $2.04 billion, a PE ratio of 14.25 and a beta of 0.70.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The firm had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were paid a $0.32 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.34%.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Entropy Technologies LP purchased a new position in Stock Yards Bancorp in the 1st quarter worth $247,000. Arrowstreet Capital Limited Partnership purchased a new position in Stock Yards Bancorp in the 1st quarter worth $1,677,000. Sei Investments Co. raised its stake in Stock Yards Bancorp by 182.6% in the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock worth $3,652,000 after acquiring an additional 35,592 shares during the last quarter. Cetera Investment Advisers raised its stake in Stock Yards Bancorp by 33.5% in the 1st quarter. Cetera Investment Advisers now owns 5,687 shares of the bank’s stock worth $377,000 after acquiring an additional 1,427 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in Stock Yards Bancorp in the 1st quarter worth $85,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Company Profile

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.