Stock Yards Bancorp (NASDAQ:SYBT) Price Target Raised to $75.00

Stock Yards Bancorp (NASDAQ:SYBT) had its target price boosted by Hovde Group from $73.00 to $75.00 in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a market perform rating on the bank’s stock.

SYBT has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Performance

SYBT opened at $67.69 on Thursday. The company’s 50 day moving average is $67.40 and its 200 day moving average is $70.89. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 14.25 and a beta of 0.69. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. Stock Yards Bancorp has a 12-month low of $60.75 and a 12-month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.91% and a net margin of 24.83%.The firm had revenue of $104.47 million during the quarter, compared to analysts’ expectations of $102.42 million. On average, equities research analysts predict 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 Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, December 15th. Stock Yards Bancorp’s payout ratio is presently 26.95%.

Insider Activity

In other news, Director David L. Hardy purchased 2,000 shares of Stock Yards Bancorp stock in a transaction dated Thursday, November 6th. The shares were purchased at an average price of $66.53 per share, with a total value of $133,060.00. Following the transaction, the director owned 2,000 shares in the company, valued at $133,060. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYBT. Huntington National Bank raised its holdings in Stock Yards Bancorp by 15.0% in the 3rd quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock valued at $87,000 after buying an additional 163 shares during the period. Guidance Capital Inc. raised its stake in shares of Stock Yards Bancorp by 1.9% in the 3rd quarter. Guidance Capital Inc. now owns 9,982 shares of the bank’s stock valued at $678,000 after acquiring an additional 186 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Stock Yards Bancorp by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock worth $1,306,000 after acquiring an additional 237 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Stock Yards Bancorp by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,915 shares of the bank’s stock worth $657,000 after purchasing an additional 275 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Stock Yards Bancorp by 6.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,869 shares of the bank’s stock valued at $464,000 after purchasing an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.