Stock Yards Bancorp (NASDAQ:SYBT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a hold rating in a research report released on Tuesday.

Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the company a “neutral” rating in a research report on Thursday, April 24th. Finally, Stephens raised their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Stock Yards Bancorp presently has an average rating of “Hold” and a consensus price target of $77.25.

Stock Yards Bancorp Stock Down 0.6%

Shares of SYBT stock opened at $77.11 on Tuesday. The firm has a fifty day moving average of $69.71 and a 200-day moving average of $72.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp has a 12-month low of $44.36 and a 12-month high of $79.85. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 19.82 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The company had revenue of $93.63 million during the quarter, compared to the consensus estimate of $92.90 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. As a group, equities research analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, March 17th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 29.95%.

Insider Activity at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,419 shares of Stock Yards Bancorp stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $74.71, for a total value of $255,433.49. Following the completion of the transaction, the director now owns 83,651 shares of the company’s stock, valued at $6,249,566.21. This trade represents a 3.93% decrease in their position. 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 insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd grew its position in shares of Stock Yards Bancorp by 164.5% in the 4th quarter. Covestor Ltd now owns 373 shares of the bank’s stock valued at $27,000 after acquiring an additional 232 shares during the period. Jones Financial Companies Lllp grew its position in shares of Stock Yards Bancorp by 1,077.5% in the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock valued at $34,000 after acquiring an additional 431 shares during the period. Principal Securities Inc. grew its position in shares of Stock Yards Bancorp by 115.6% in the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock valued at $35,000 after acquiring an additional 260 shares during the period. Kentucky Trust Co bought a new position in shares of Stock Yards Bancorp in the 4th quarter valued at about $44,000. Finally, Sterling Capital Management LLC grew its position in shares of Stock Yards Bancorp by 806.7% in the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock valued at $58,000 after acquiring an additional 718 shares during the period. Institutional investors own 56.46% of the company’s stock.

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.