Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned a consensus recommendation of “Moderate Buy” from the four research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $65.88.

A number of analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $65.50 target price on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. Stephens lifted their price target on Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Hovde Group lifted their price target on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th.

Insider Buying and Selling

In related news, Director David P. Heintzman sold 6,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $62.27, for a total value of $373,620.00. Following the sale, the director now directly owns 107,070 shares of the company’s stock, valued at $6,667,248.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 9,053 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $61.99, for a total value of $561,195.47. Following the sale, the chief executive officer now directly owns 105,450 shares of the company’s stock, valued at $6,536,845.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Heintzman sold 6,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $62.27, for a total value of $373,620.00. Following the completion of the sale, the director now directly owns 107,070 shares in the company, valued at $6,667,248.90. The disclosure for this sale can be found here. Insiders have sold a total of 18,757 shares of company stock valued at $1,165,177 over the last ninety days. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Stock Yards Bancorp during the second quarter valued at $45,000. Quadrant Capital Group LLC boosted its position in Stock Yards Bancorp by 70.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock worth $99,000 after purchasing an additional 799 shares during the last quarter. Quantbot Technologies LP purchased a new position in Stock Yards Bancorp in the first quarter worth about $195,000. ProShare Advisors LLC boosted its position in Stock Yards Bancorp by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Stock Yards Bancorp by 10.3% in the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after buying an additional 494 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Down 1.6 %

Shares of NASDAQ SYBT opened at $63.66 on Friday. Stock Yards Bancorp has a 52 week low of $36.93 and a 52 week high of $65.00. The business has a 50-day simple moving average of $58.65 and a two-hundred day simple moving average of $50.94. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.87 billion, a P/E ratio of 17.88 and a beta of 0.82.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.10. The firm had revenue of $123.96 million during the quarter, compared to the consensus estimate of $83.90 million. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. Research analysts anticipate that Stock Yards Bancorp will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.95%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, September 16th. Stock Yards Bancorp’s dividend payout ratio is presently 34.83%.

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.