Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Given Average Rating of "Hold" by Brokerages

Key Points

• Stock Yards Bancorp has a consensus “Hold” rating from seven analysts, with six holds and one buy. The average 12-month price target is $88, compared with a recent share price of $78.95.
• The bank exceeded quarterly expectations, reporting $1.31 in earnings per share versus the $1.08 consensus and revenue of $114.71 million versus $111.66 million expected.
• Stock Yards Bancorp increased its quarterly dividend to $0.33 per share from $0.32, implying an annualized dividend of $1.32 and a yield of approximately 1.7%.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) has been given a consensus rating of "Hold" by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $88.00.

A number of equities research analysts recently commented on the stock. Hovde Group cut shares of Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $82.00 to $90.00 in a research note on Thursday, July 30th. Stephens set a $87.00 target price on shares of Stock Yards Bancorp and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Piper Sandler reaffirmed a "neutral" rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Wall Street Zen raised shares of Stock Yards Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Finally, Raymond James Financial began coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They issued a "hold" rating on the stock.

Insider Activity at Stock Yards Bancorp

In related news, Director Laura Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the sale, the director owned 9,580 shares in the company, valued at approximately $826,658.20. This trade represents a 41.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in shares of Stock Yards Bancorp by 18.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,581 shares of the bank's stock worth $2,109,000 after purchasing an additional 4,273 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of Stock Yards Bancorp by 30.2% during the second quarter. Engineers Gate Manager LP now owns 4,609 shares of the bank's stock worth $352,000 after buying an additional 1,070 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Stock Yards Bancorp by 9,053.1% in the second quarter. California State Teachers Retirement System now owns 2,410,105 shares of the bank's stock valued at $184,301,000 after buying an additional 2,383,774 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Stock Yards Bancorp in the second quarter valued at approximately $123,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of Stock Yards Bancorp by 61.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 26,741 shares of the bank's stock valued at $2,045,000 after buying an additional 10,226 shares during the period. Institutional investors and hedge funds own 56.46% of the company's stock.

Stock Yards Bancorp Stock Up 1.9%

SYBT opened at $78.95 on Friday. 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 company has a market cap of $2.45 billion, a price-to-earnings ratio of 15.73 and a beta of 0.66. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $89.21. The business's fifty day moving average is $81.17 and its two-hundred day moving average is $73.78.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.23. The business had revenue of $114.71 million during the quarter, compared to analysts' expectations of $111.66 million. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%. Analysts anticipate that Stock Yards Bancorp will post 5.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 21st will be given a $0.33 dividend. This is an increase from Stock Yards Bancorp's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, September 21st. Stock Yards Bancorp's dividend payout ratio (DPR) is currently 25.50%.

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.

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