Stock Yards Bancorp (NASDAQ:SYBT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a hold rating in a research report released on Saturday morning.

Other research analysts have also recently issued research reports about the stock. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Friday, March 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Piper Sandler restated a “neutral” rating and issued a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Finally, Zacks Research raised Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Stock Yards Bancorp presently has an average rating of “Moderate Buy” and an average target price of $79.00.

Stock Yards Bancorp Price Performance

SYBT stock opened at $65.18 on Friday. The business has a 50 day moving average price of $66.61 and a 200 day moving average price of $67.53. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 13.72 and a beta of 0.71. Stock Yards Bancorp has a fifty-two week low of $60.75 and a fifty-two week high of $83.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%.The firm had revenue of $104.47 million during the quarter, compared to the consensus estimate of $102.42 million. Equities research analysts anticipate that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio is presently 26.95%.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of institutional investors have recently modified their holdings of SYBT. Vanguard Group Inc. boosted its stake in Stock Yards Bancorp by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,945,817 shares of the bank’s stock worth $136,188,000 after purchasing an additional 17,055 shares during the period. Stock Yards Bank & Trust Co. raised its holdings in shares of Stock Yards Bancorp by 37.7% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock valued at $86,928,000 after buying an additional 366,475 shares during the last quarter. Curi Capital LLC raised its holdings in shares of Stock Yards Bancorp by 2.4% in the second quarter. Curi Capital LLC now owns 262,990 shares of the bank’s stock valued at $20,823,000 after buying an additional 6,275 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Stock Yards Bancorp by 0.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank’s stock worth $12,191,000 after buying an additional 816 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Stock Yards Bancorp by 47.2% during the third quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock worth $12,859,000 after buying an additional 58,942 shares during the period. 56.46% of the stock is owned by institutional investors and hedge funds.

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.