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

Key Points

• Consensus "Hold" — Six analysts (five hold, one buy) give Stock Yards Bancorp a consensus rating of Hold with an average 12‑month price target of $77.75; Hovde raised to outperform and Keefe, Bruyette & Woods lifted its target to $80.
• Solid quarter and modest yield — The bank reported Q EPS of $1.24 (vs. $1.20 est.) and revenue slightly beat expectations, the stock trades near $71.94 with a 1‑year range of $61.51–$83.83 and a P/E of 15.15, and it pays a quarterly dividend of $0.32 (annualized $1.28, yield ~1.8%, payout ratio ~27%).

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) have received a consensus recommendation of "Hold" from the six analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $77.75.

SYBT has been the subject of several analyst reports. Hovde Group raised shares of Stock Yards Bancorp from a "market perform" rating to an "outperform" rating and set a $75.00 price target for the company in a research report on Friday, March 6th. Piper Sandler reiterated a "neutral" rating and set a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Keefe, Bruyette & Woods boosted their price target on Stock Yards Bancorp from $79.00 to $80.00 and gave the stock a "market perform" rating in a research note on Thursday, April 9th. Finally, Zacks Research downgraded Stock Yards Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock opened at $71.94 on Tuesday. Stock Yards Bancorp has a 1 year low of $61.51 and a 1 year high of $83.83. The firm's 50-day moving average is $66.66 and its 200 day moving average is $67.14. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 15.15 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.99 and a quick ratio of 0.99.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $104.47 million during the quarter, compared to analysts' expectations of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. Sell-side analysts anticipate that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. Stock Yards Bancorp's payout ratio is 26.95%.

Institutional Trading of Stock Yards Bancorp

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Stock Yards Bancorp during the third quarter valued at approximately $28,000. Brown Brothers Harriman & Co. bought a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $45,000. GAMMA Investing LLC grew its position in Stock Yards Bancorp by 92.1% in the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank's stock worth $54,000 after purchasing an additional 396 shares during the period. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp during the 4th quarter valued at $60,000. Finally, Covestor Ltd raised its stake in Stock Yards Bancorp by 138.4% during the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank's stock valued at $76,000 after buying an additional 678 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.