Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives Consensus Rating of “Hold” from Analysts

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $77.75.

Several research firms have recently issued reports on SYBT. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Keefe, Bruyette & Woods increased their target price on shares of 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. Piper Sandler reissued 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. Zacks Research lowered shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th.

Stock Yards Bancorp Trading Down 0.6%

SYBT stock opened at $72.15 on Tuesday. The company’s 50-day simple moving average is $66.86 and its 200-day simple moving average is $67.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 52-week low of $61.51 and a 52-week high of $83.83. The firm has a market cap of $2.13 billion, a P/E ratio of 15.19 and a beta of 0.67.

Stock Yards Bancorp (NASDAQ:SYBT) last posted 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. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. The business had revenue of $104.47 million for the quarter, compared to analyst estimates of $102.42 million. As a group, equities analysts forecast that Stock Yards Bancorp will post 4.96 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were paid 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 dividend payout ratio (DPR) is currently 26.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SYBT. AQR Capital Management LLC lifted its stake in Stock Yards Bancorp by 47.4% in the 1st quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after buying an additional 2,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Stock Yards Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after buying an additional 658 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Stock Yards Bancorp by 28.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after buying an additional 11,758 shares in the last quarter. Jane Street Group LLC purchased a new position in Stock Yards Bancorp in the 1st quarter valued at about $3,400,000. Finally, Cetera Investment Advisers purchased a new position in Stock Yards Bancorp in the 2nd quarter valued at about $365,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Company Profile

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.