Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives Average Recommendation of “Moderate Buy” from Brokerages
by Michael Walen · The Markets DailyShares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT – Get Free Report) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $79.00.
Several analysts have commented on the company. Zacks Research upgraded Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Wall Street Zen downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, March 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Finally, Piper Sandler restated a “neutral” rating and set a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th.
Check Out Our Latest Research Report on Stock Yards Bancorp
Stock Yards Bancorp Price Performance
SYBT stock opened at $62.98 on Friday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 13.26 and a beta of 0.71. 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 $60.75 and a 52-week high of $83.83. The stock’s fifty day simple moving average is $67.06 and its 200-day simple moving average is $68.41.
Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last released its earnings results on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%.The firm had revenue of $104.47 million during the quarter, compared to analyst estimates of $102.42 million. Equities research analysts expect that Stock Yards Bancorp will post 4.16 EPS for the current year.
Stock Yards Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.28 annualized dividend and a yield of 2.0%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.95%.
Institutional Investors Weigh In On Stock Yards Bancorp
Large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Stock Yards Bancorp during the 3rd quarter worth $28,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Stock Yards Bancorp during the third quarter worth about $45,000. GAMMA Investing LLC increased its position in shares of Stock Yards Bancorp by 92.1% during the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after acquiring an additional 396 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Stock Yards Bancorp in the fourth quarter worth about $60,000. Finally, Covestor Ltd boosted its holdings in Stock Yards Bancorp by 138.4% in the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after purchasing an additional 678 shares during the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.
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.