Stock Yards Bancorp (NASDAQ:SYBT) Given New $80.00 Price Target at Stephens

Stock Yards Bancorp (NASDAQ:SYBT) had its price target raised by Stephens from $78.00 to $80.00 in a report issued on Thursday,Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Separately, Piper Sandler set a $81.00 price target on Stock Yards Bancorp and gave the company a “neutral” rating in a research note on Thursday.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $76.73 on Thursday. Stock Yards Bancorp has a 1 year low of $44.32 and a 1 year high of $79.79. The stock has a market capitalization of $2.26 billion, a PE ratio of 19.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50-day simple moving average of $69.15 and a 200-day simple moving average of $71.09.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The company had revenue of $93.63 million during the quarter, compared to analysts’ expectations of $92.90 million. During the same quarter in the previous year, the business posted $0.88 EPS. On average, analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.62%. Stock Yards Bancorp’s payout ratio is currently 31.88%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SYBT. Covestor Ltd raised its stake in Stock Yards Bancorp by 164.5% during the 4th quarter. Covestor Ltd now owns 373 shares of the bank’s stock worth $27,000 after acquiring an additional 232 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Stock Yards Bancorp by 1,077.5% during the fourth quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock worth $34,000 after purchasing an additional 431 shares during the last quarter. Principal Securities Inc. increased its position in shares of Stock Yards Bancorp by 115.6% during the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. Kentucky Trust Co purchased a new stake in shares of Stock Yards Bancorp in the 4th quarter valued at about $44,000. Finally, Sterling Capital Management LLC boosted its position in shares of Stock Yards Bancorp by 806.7% in the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock valued at $58,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.