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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has earned an average recommendation of “Moderate Buy” from the four research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $65.88.

Several equities research analysts have issued reports on the stock. Piper Sandler reiterated a “neutral” rating and set a $65.50 price objective on shares of Stock Yards Bancorp in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. 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 research report on Wednesday, July 24th. Finally, Stephens boosted their target price on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ SYBT opened at $60.95 on Friday. The company has a market cap of $1.79 billion, a PE ratio of 17.12 and a beta of 0.82. Stock Yards Bancorp has a 12 month low of $36.93 and a 12 month high of $65.00. 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 $59.19 and a 200-day simple moving average of $51.45.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data 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. On average, equities analysts anticipate that Stock Yards Bancorp will post 3.69 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 2.03%. Stock Yards Bancorp’s dividend payout ratio is currently 34.83%.

Insider Activity at Stock Yards Bancorp

In related news, EVP William Dishman sold 2,204 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $62.31, for a total value of $137,331.24. Following the sale, the executive vice president now directly owns 34,444 shares of the company’s stock, valued at $2,146,205.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Stock Yards Bancorp news, Director David P. Heintzman sold 6,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $62.27, for a total transaction of $373,620.00. Following the completion of the sale, the director now owns 107,070 shares in the company, valued at $6,667,248.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William Dishman sold 2,204 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $62.31, for a total transaction of $137,331.24. Following the sale, the executive vice president now owns 34,444 shares of the company’s stock, valued at approximately $2,146,205.64. The disclosure for this sale can be found here. Insiders have sold 21,457 shares of company stock valued at $1,335,466 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased 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 valued at $91,998,000 after purchasing an additional 33,906 shares during the last quarter. Stock Yards Bank & Trust Co. grew its position in shares of Stock Yards Bancorp by 0.8% during the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock worth $60,755,000 after acquiring an additional 9,573 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of Stock Yards Bancorp by 4.5% during the first quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after acquiring an additional 50,730 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Stock Yards Bancorp by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after acquiring an additional 24,856 shares during the last quarter. Finally, RMB Capital Management LLC grew its position in shares of Stock Yards Bancorp by 49.7% during the fourth quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after acquiring an additional 74,132 shares during the last quarter. 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.