Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock Has Consensus Target Price of $88.00 According to Analysts

Key Points

• Analysts maintain a cautious outlook: Seven analysts give Stock Yards Bancorp a consensus “Hold” rating, with six holds and one buy. The average 12-month price target is $88.00, above the reported $77.61 share price.
• Quarterly results exceeded expectations: The bank reported earnings of $1.31 per share versus the $1.08 consensus estimate, while revenue reached $114.71 million, ahead of forecasts.
• The dividend was increased: Stock Yards Bancorp raised its quarterly dividend from $0.32 to $0.33 per share, representing an annualized payout of $1.32 and a 1.7% yield.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) has received a consensus recommendation of "Hold" from the seven analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $88.00.

Several research analysts recently weighed in on SYBT shares. Raymond James Financial initiated coverage on shares of Stock Yards Bancorp in a research note on Wednesday, July 8th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods lifted their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a "market perform" rating in a research report on Friday, July 31st. Hovde Group lowered Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $82.00 to $90.00 in a report on Thursday, July 30th. Wall Street Zen raised Stock Yards Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th.

Insiders Place Their Bets

In other Stock Yards Bancorp news, Director Laura Wells sold 6,823 shares of the company's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $86.29, for a total transaction of $588,756.67. Following the sale, the director directly owned 9,580 shares of the company's stock, valued at approximately $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in Stock Yards Bancorp by 145.8% during the third quarter. Versant Capital Management Inc now owns 413 shares of the bank's stock worth $32,000 after purchasing an additional 245 shares during the period. Sequoia Financial Advisors LLC increased its position in Stock Yards Bancorp by 18.3% during the second quarter. Sequoia Financial Advisors LLC now owns 27,581 shares of the bank's stock worth $2,109,000 after buying an additional 4,273 shares during the last quarter. Engineers Gate Manager LP raised its stake in Stock Yards Bancorp by 30.2% in the second quarter. Engineers Gate Manager LP now owns 4,609 shares of the bank's stock valued at $352,000 after buying an additional 1,070 shares during the period. TD Waterhouse Canada Inc. bought a new stake in Stock Yards Bancorp in the second quarter valued at approximately $123,000. Finally, Susquehanna Fundamental Investments LLC lifted its position in shares of Stock Yards Bancorp by 61.9% in 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 last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Trading Down 1.3%

SYBT stock opened at $77.61 on Tuesday. Stock Yards Bancorp has a fifty-two week low of $61.51 and a fifty-two week high of $89.21. The business has a fifty day moving average price of $81.03 and a 200 day moving average price of $75.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 15.46 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued 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. 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 during the quarter, compared to analyst estimates of $111.66 million. Analysts expect that Stock Yards Bancorp will post 5.21 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 21st were paid a $0.33 dividend. This is a boost 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 of this dividend was Monday, September 21st. Stock Yards Bancorp's dividend payout ratio (DPR) is 26.29%.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a financial holding company headquartered in Louisville, Kentucky. Through its principal subsidiary, Stock Yards Bank & Trust Company, it provides commercial and retail banking services to individuals, businesses, and institutions.

The bank offers deposit accounts, commercial and consumer lending, residential mortgage services, treasury management, online and mobile banking, and other traditional financial products. It also provides wealth management and trust services, including investment management, fiduciary administration, financial planning, and estate-related services.

Founded in 1904, Stock Yards Bank has developed a regional presence serving communities in Kentucky, southern Indiana, the greater Cincinnati area, and Indianapolis.

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