Stock Yards Bancorp (NASDAQ:SYBT) Upgraded at StockNews.com

StockNews.com upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Stephens lifted their price objective on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price objective on shares of Stock Yards Bancorp and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Stock Yards Bancorp has an average rating of “Hold” and an average target price of $77.25.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT opened at $77.11 on Tuesday. The firm has a 50-day moving average of $69.71 and a 200-day moving average of $72.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $2.27 billion, a PE ratio of 19.82 and a beta of 0.73. Stock Yards Bancorp has a 52-week low of $44.36 and a 52-week high of $79.85.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.13. The company had revenue of $93.63 million during the quarter, compared to analysts’ expectations of $92.90 million. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter last year, the company posted $0.88 EPS. On average, sell-side analysts anticipate that Stock Yards Bancorp will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Monday, March 17th. Stock Yards Bancorp’s payout ratio is presently 29.95%.

Insider Activity

In other news, Director David P. Heintzman sold 1,581 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $74.00, for a total value of $116,994.00. Following the completion of the transaction, the director now directly owns 82,070 shares in the company, valued at approximately $6,073,180. The trade was a 1.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Firethorn Wealth Partners LLC increased its position in Stock Yards Bancorp by 0.9% during the 4th quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank’s stock worth $1,048,000 after purchasing an additional 136 shares in the last quarter. Sippican Capital Advisors increased its position in Stock Yards Bancorp by 0.8% during the 1st quarter. Sippican Capital Advisors now owns 17,984 shares of the bank’s stock worth $1,242,000 after purchasing an additional 140 shares in the last quarter. Corient Private Wealth LLC increased its position in Stock Yards Bancorp by 0.6% during the 4th quarter. Corient Private Wealth LLC now owns 25,140 shares of the bank’s stock worth $1,800,000 after purchasing an additional 152 shares in the last quarter. Cerity Partners LLC increased its position in Stock Yards Bancorp by 0.9% during the 4th quarter. Cerity Partners LLC now owns 18,713 shares of the bank’s stock worth $1,339,000 after purchasing an additional 160 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its position in Stock Yards Bancorp by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank’s stock worth $192,000 after purchasing an additional 171 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

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.