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

Key Points

• Stock Yards Bancorp has a consensus analyst rating of "Hold", with five analysts recommending hold and two recommending buy. The average 12-month price target is $76.75.
• The company recently beat earnings expectations, reporting $1.24 EPS versus the expected $1.17, though revenue came in below forecasts at $102.63 million. Analysts still expect the bank to earn about 5 EPS for the current fiscal year.
• Stock Yards Bancorp also paid a quarterly dividend of $0.32, equal to an annualized yield of about 1.6%. Meanwhile, company president Philip Poindexter sold 1,221 shares in May, reducing his stake slightly.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) has been assigned a consensus rating of "Hold" from the seven analysts that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $76.75.

Several analysts have recently weighed in on the stock. Raymond James Financial assumed coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods increased their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a "market perform" rating in a research note on Thursday, April 23rd. Stephens raised their price target on 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. Zacks Research downgraded Stock Yards Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th.

Insider Transactions at Stock Yards Bancorp

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

Institutional Investors Weigh In On Stock Yards Bancorp

A number of hedge funds have recently made changes to their positions in SYBT. Stock Yards Bank & Trust Co. grew its holdings in shares of Stock Yards Bancorp by 37.7% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank's stock valued at $86,928,000 after purchasing an additional 366,475 shares during the last quarter. Marshall Wace LLP raised its position in Stock Yards Bancorp by 691.5% in the 4th quarter. Marshall Wace LLP now owns 178,002 shares of the bank's stock worth $11,561,000 after purchasing an additional 155,512 shares during the period. Thrivent Financial for Lutherans bought a new stake in Stock Yards Bancorp in the fourth quarter worth $7,461,000. Millennium Management LLC lifted its stake in Stock Yards Bancorp by 211.2% in the fourth quarter. Millennium Management LLC now owns 131,842 shares of the bank's stock worth $8,563,000 after purchasing an additional 89,470 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its position in Stock Yards Bancorp by 146.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank's stock valued at $7,376,000 after buying an additional 67,440 shares during the period. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Stock Down 1.3%

Shares of NASDAQ SYBT opened at $80.31 on Thursday. Stock Yards Bancorp has a 12 month low of $61.51 and a 12 month high of $83.83. 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 firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 16.52 and a beta of 0.68. The business has a 50-day moving average of $74.52 and a 200-day moving average of $70.28.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The company had revenue of $102.63 million for the quarter, compared to analysts' expectations of $108.18 million. Sell-side analysts expect that Stock Yards Bancorp will post 5 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.32 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. Stock Yards Bancorp's payout ratio is presently 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.

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