Brokerages Set Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Target Price at $50.00

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) has been assigned an average recommendation of "Hold" from the four analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $50.00.

A number of equities research analysts recently issued reports on the company. Piper Sandler began coverage on Stock Yards Bancorp in a research note on Wednesday, March 6th. They issued a "neutral" rating and a $52.00 target price on the stock. Hovde Group started coverage on shares of Stock Yards Bancorp in a report on Monday, March 4th. They issued an "outperform" rating for the company. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $54.00 price target (up previously from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday.

Institutional Investors Weigh In On Stock Yards Bancorp

Institutional investors have recently made changes to their positions in the company. Diversified Trust Co raised its position in Stock Yards Bancorp by 34.3% during the first quarter. Diversified Trust Co now owns 9,910 shares of the bank's stock valued at $485,000 after acquiring an additional 2,530 shares in the last quarter. Chatham Capital Group Inc. increased its stake in shares of Stock Yards Bancorp by 11.6% during the 1st quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank's stock worth $1,481,000 after purchasing an additional 3,140 shares during the last quarter. Independence Bank of Kentucky raised its holdings in shares of Stock Yards Bancorp by 34.1% during the 1st quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank's stock valued at $693,000 after purchasing an additional 3,603 shares in the last quarter. Vanguard Group Inc. raised its holdings in Stock Yards Bancorp by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank's stock valued at $91,998,000 after buying an additional 33,906 shares in the last quarter. Finally, RMB Capital Management LLC increased its holdings in shares of Stock Yards Bancorp by 49.7% during the 4th quarter. RMB Capital Management LLC now owns 223,236 shares of the bank's stock valued at $11,494,000 after acquiring an additional 74,132 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT traded down $1.93 during midday trading on Thursday, hitting $46.18. 131,006 shares of the stock were exchanged, compared to its average volume of 78,949. Stock Yards Bancorp has a twelve month low of $36.93 and a twelve month high of $53.15. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $45.71 and a 200-day moving average price of $46.18. The stock has a market cap of $1.36 billion, a P/E ratio of 12.54 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its earnings results on Wednesday, January 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.04). The business had revenue of $119.66 million for the quarter, compared to analyst estimates of $82.60 million. Stock Yards Bancorp had a return on equity of 13.20% and a net margin of 24.54%. On average, research analysts forecast that Stock Yards Bancorp will post 3.37 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, March 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.60%. Stock Yards Bancorp's dividend payout ratio is 32.70%.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.