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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $76.00.

SYBT has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Friday, March 6th. Stephens boosted their price objective on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th.

Insider Buying and Selling at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president directly owned 53,376 shares of the company’s stock, valued at $3,772,615.68. This represents a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Stock Yards Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth about $28,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth about $45,000. GAMMA Investing LLC grew its position in shares of 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 buying an additional 396 shares during the period. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp during the 4th quarter valued at about $60,000. Finally, Covestor Ltd grew its position in Stock Yards Bancorp by 138.4% during 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 last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Up 1.9%

Shares of Stock Yards Bancorp stock opened at $73.95 on Wednesday. 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 company’s fifty day simple moving average is $70.72 and its two-hundred day simple moving average is $68.19. The company has a market cap of $2.18 billion, a P/E ratio of 15.22 and a beta of 0.69. Stock Yards Bancorp has a 12-month low of $61.51 and a 12-month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The business had revenue of $102.63 million for the quarter, compared to the consensus estimate of $108.18 million. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. Research analysts anticipate that Stock Yards Bancorp will post 5.1 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.7%. Stock Yards Bancorp’s dividend payout ratio is currently 26.34%.

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.