Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Given Consensus Rating of “Hold” by Brokerages

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has been assigned a consensus rating of “Hold” from the four ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $50.00.

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 price target (up previously from $53.00) on shares of Stock Yards Bancorp in a research note on Thursday, April 25th.

Stock Yards Bancorp Price Performance

SYBT stock opened at $53.89 on Tuesday. Stock Yards Bancorp has a 1 year low of $36.93 and a 1 year high of $54.67. The stock has a market capitalization of $1.58 billion, a PE ratio of 15.14 and a beta of 0.83. The company’s 50-day moving average is $48.01 and its 200-day moving average is $47.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $83.44 million for the quarter, compared to analyst estimates of $83.00 million. Stock Yards Bancorp had a return on equity of 12.51% and a net margin of 22.86%. Equities research analysts expect that Stock Yards Bancorp will post 3.48 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Monday, June 17th. Stock Yards Bancorp’s payout ratio is currently 33.71%.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $47.05, for a total value of $141,150.00. Following the completion of the sale, the director now owns 113,070 shares in the company, valued at approximately $5,319,943.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. bought a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth $310,000. Diversified Trust Co grew its stake in shares of Stock Yards Bancorp by 31.1% during the 4th quarter. Diversified Trust Co now owns 7,380 shares of the bank’s stock worth $380,000 after acquiring an additional 1,750 shares during the period. Baldwin Brothers LLC MA increased its holdings in Stock Yards Bancorp by 6.2% in the 4th quarter. Baldwin Brothers LLC MA now owns 12,030 shares of the bank’s stock worth $619,000 after acquiring an additional 700 shares during the last quarter. Joule Financial LLC purchased a new stake in Stock Yards Bancorp in the 4th quarter worth about $239,000. Finally, SG Americas Securities LLC bought a new stake in Stock Yards Bancorp in the 4th quarter valued at about $165,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

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.