Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have been assigned an average recommendation of “Moderate Buy” from the four analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $62.50.

Several research firms have commented on SYBT. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Stephens raised their price objective on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Hovde Group boosted their target price on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th.

Stock Yards Bancorp Price Performance

SYBT stock opened at $60.07 on Wednesday. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 16.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50 day simple moving average of $55.94 and a 200 day simple moving average of $49.69. Stock Yards Bancorp has a 1 year low of $36.93 and a 1 year high of $64.51.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.10. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. The company had revenue of $123.96 million during the quarter, compared to the consensus estimate of $83.90 million. Research analysts anticipate that Stock Yards Bancorp will post 3.66 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.06%. This is an increase 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 (DPR) is 33.71%.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 9,053 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $61.99, for a total transaction of $561,195.47. Following the completion of the transaction, the chief executive officer now owns 105,450 shares in the company, valued at approximately $6,536,845.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 9,053 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $61.99, for a total transaction of $561,195.47. Following the sale, the chief executive officer now owns 105,450 shares of the company’s stock, valued at $6,536,845.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard A. Lechleiter acquired 650 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $56.40 per share, with a total value of $36,660.00. Following the completion of the transaction, the director now owns 5,680 shares in the company, valued at approximately $320,352. The disclosure for this purchase can be found here. Insiders have sold 18,757 shares of company stock worth $1,165,177 over the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

Several large investors have recently modified their holdings of SYBT. Vanguard Group Inc. boosted its stake in Stock Yards Bancorp by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after acquiring an additional 33,906 shares in the last quarter. Norges Bank acquired a new stake in shares of Stock Yards Bancorp in the 4th quarter valued at about $9,100,000. GSA Capital Partners LLP bought a new stake in Stock Yards Bancorp in the 1st quarter valued at about $863,000. RMB Capital Management LLC raised its stake in Stock Yards Bancorp by 49.7% during the 4th quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after buying an additional 74,132 shares during the period. Finally, Champlain Investment Partners LLC raised its stake in Stock Yards Bancorp by 4.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after buying an additional 50,730 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Company Profile

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.