Hovde Group Raises Stock Yards Bancorp (NASDAQ:SYBT) Price Target to $68.00

Stock Yards Bancorp (NASDAQ:SYBT) had its price objective hoisted by Hovde Group from $53.00 to $68.00 in a report issued on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $54.00 target price (up previously from $53.00) on shares of Stock Yards Bancorp in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $62.50.

Stock Yards Bancorp Trading Down 0.5 %

SYBT opened at $63.27 on Wednesday. Stock Yards Bancorp has a 1-year low of $36.93 and a 1-year high of $64.51. The firm has a 50-day moving average price of $49.70 and a two-hundred day moving average price of $47.82. The stock has a market capitalization of $1.86 billion, a PE ratio of 17.77 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.10. The firm had revenue of $123.96 million during the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.36%. As a group, equities analysts anticipate that Stock Yards Bancorp will post 3.52 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, June 17th. Stock Yards Bancorp’s dividend 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 Stock Yards Bancorp stock in a transaction on Monday, May 6th. The shares were sold at an average price of $47.05, for a total transaction of $141,150.00. Following the transaction, the director now directly owns 113,070 shares of the company’s stock, valued at $5,319,943.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SYBT. Signaturefd LLC raised its holdings in shares of Stock Yards Bancorp by 121.7% during the fourth quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock worth $79,000 after acquiring an additional 840 shares during the period. Quadrant Capital Group LLC increased its holdings in Stock Yards Bancorp by 70.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock worth $99,000 after purchasing an additional 799 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Stock Yards Bancorp in the 4th quarter valued at about $165,000. Quantbot Technologies LP bought a new stake in shares of Stock Yards Bancorp in the first quarter valued at about $195,000. Finally, German American Bancorp Inc. acquired a new position in shares of Stock Yards Bancorp during the fourth quarter worth about $230,000. Institutional investors own 56.46% of the company’s stock.

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.