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

Key Points

• Stock Yards Bancorp, Inc. received a consensus rating of "Hold" from five analysts, with an average 1-year price target of $79.75.
• CEO James A. Hillebrand sold 2,162 shares of the company's stock for approximately $180,137.84, reflecting a 1.98% decrease in his ownership.
• The company recently announced an increase in its quarterly dividend from $0.31 to $0.32, resulting in an annualized yield of 1.8%.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) has been given a consensus rating of "Hold" by the five ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $79.75.

Several analysts have commented on SYBT shares. Wall Street Zen lowered Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Keefe, Bruyette & Woods raised their price objective on Stock Yards Bancorp from $80.00 to $85.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Weiss Ratings reissued a "buy (b-)" rating on shares of Stock Yards Bancorp in a report on Saturday, September 27th. Finally, Piper Sandler raised their price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a report on Thursday, July 24th.

Insider Activity

In other news, CEO James A. Hillebrand sold 2,162 shares of Stock Yards Bancorp stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total value of $180,137.84. Following the sale, the chief executive officer directly owned 107,292 shares of the company's stock, valued at $8,939,569.44. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Stock Yards Bancorp

A number of institutional investors have recently made changes to their positions in SYBT. Huntington National Bank lifted its position in Stock Yards Bancorp by 1,405.6% during the second quarter. Huntington National Bank now owns 1,084 shares of the bank's stock worth $86,000 after buying an additional 1,012 shares in the last quarter. Archer Investment Corp purchased a new position in Stock Yards Bancorp during the second quarter worth approximately $105,000. KBC Group NV purchased a new position in Stock Yards Bancorp during the first quarter worth approximately $114,000. Truist Financial Corp purchased a new position in Stock Yards Bancorp during the second quarter worth approximately $207,000. Finally, Sei Investments Co. purchased a new position in Stock Yards Bancorp during the second quarter worth approximately $207,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Up 1.1%

NASDAQ:SYBT traded up $0.76 during mid-day trading on Friday, hitting $69.61. 97,190 shares of the company's stock traded hands, compared to its average volume of 125,643. The company has a fifty day moving average of $75.83 and a 200 day moving average of $74.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $2.05 billion, a P/E ratio of 16.00 and a beta of 0.62. Stock Yards Bancorp has a twelve month low of $58.50 and a twelve month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. The business had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.32 million. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%. On average, analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, September 15th. This is an increase from Stock Yards Bancorp's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 1.8%. Stock Yards Bancorp's dividend payout ratio is 29.43%.

About Stock Yards Bancorp

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.

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