Stock Yards Bancorp, Inc. (NASDAQ:SYBT – Get Free Report) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $88.00.
A number of brokerages have commented on SYBT. Keefe, Bruyette & Woods increased their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $82.00 to $90.00 in a report on Thursday, July 30th. Weiss Ratings upgraded Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research report on Thursday, July 30th.
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Stock Yards Bancorp Price Performance
Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. The business had revenue of $114.71 million during the quarter, compared to analysts’ expectations of $111.66 million. Equities analysts expect that Stock Yards Bancorp will post 5.14 earnings per share for the current fiscal year.
Stock Yards Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 25.50%.
Insider Transactions at Stock Yards Bancorp
In other news, Director Laura L. Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the sale, the director directly owned 9,580 shares in the company, valued at $826,658.20. The trade was a 41.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the transaction, the president directly owned 53,376 shares of the company’s stock, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.90% of the company’s stock.
Institutional Trading of Stock Yards Bancorp
Several hedge funds and other institutional investors have recently bought and sold shares of SYBT. BlackRock Inc. purchased a new stake in shares of Stock Yards Bancorp in the second quarter valued at $165,219,000. The Manufacturers Life Insurance Company acquired a new position in Stock Yards Bancorp in the second quarter valued at $15,848,000. Marshall Wace LLP lifted its position in Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after buying an additional 155,512 shares during the period. Oxford Financial Group LTD. LLC purchased a new position in Stock Yards Bancorp during the second quarter worth about $11,063,000. Finally, Bank of New York Mellon Corp acquired a new stake in Stock Yards Bancorp in the 2nd quarter worth about $9,585,000. 56.46% of the stock is owned by hedge funds and other institutional investors.
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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