Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Given Consensus Rating of “Hold” by Brokerages

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $88.00.

A number of brokerages recently commented on SYBT. Stephens set a $87.00 price objective on shares of Stock Yards Bancorp and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $82.00 to $90.00 in a research note on Thursday, July 30th. Weiss Ratings raised Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods raised their price target on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th.

Insider Transactions at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura L. Wells sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the sale, the director directly owned 9,580 shares in the company, valued at $826,658.20. This trade represents a 41.60% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock worth $493,000 after purchasing an additional 2,297 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Stock Yards Bancorp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 658 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Stock Yards Bancorp by 28.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after buying an additional 11,758 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Stock Yards Bancorp in the first quarter valued at $3,400,000. Finally, Cetera Investment Advisers acquired a new position in shares of Stock Yards Bancorp during the 2nd quarter worth $365,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of Stock Yards Bancorp stock opened at $85.06 on Monday. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $89.21. The company has a market cap of $2.64 billion, a P/E ratio of 16.94 and a beta of 0.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $79.03 and a two-hundred day moving average of $72.26.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.23. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. The business had revenue of $114.71 million for the quarter, compared to the consensus estimate of $111.66 million. On average, analysts forecast that Stock Yards Bancorp will post 5.14 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 25.50%.

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.