Stock Yards Bancorp (NASDAQ:SYBT) Research Coverage Started at Raymond James Financial

Raymond James Financial began coverage on shares of Stock Yards Bancorp (NASDAQ:SYBT) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued a hold rating on the bank’s stock.

A number of other research firms also recently issued reports on SYBT. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Piper Sandler reissued a “neutral” rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Zacks Research downgraded Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Keefe, Bruyette & Woods raised their price objective on Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.75.

Stock Yards Bancorp Trading Up 0.6%

Shares of Stock Yards Bancorp stock opened at $76.26 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The company’s fifty day moving average price is $73.20 and its two-hundred day moving average price is $69.50. Stock Yards Bancorp has a 52-week low of $61.51 and a 52-week high of $83.83. The firm has a market capitalization of $2.25 billion, a PE ratio of 15.69 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The company had revenue of $102.63 million during the quarter, compared to analysts’ expectations of $108.18 million. On average, analysts expect that Stock Yards Bancorp will post 4.96 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.7%. Stock Yards Bancorp’s dividend payout ratio is presently 26.34%.

Insiders Place Their Bets

In related news, President Philip Poindexter sold 1,221 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the transaction, the president directly owned 53,376 shares in the company, valued at $3,772,615.68. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stock Yards Bancorp

Several large investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Stock Yards Bancorp during the third quarter valued at approximately $28,000. Brown Brothers Harriman & Co. purchased a new position in shares of Stock Yards Bancorp during the third quarter valued at approximately $45,000. GAMMA Investing LLC grew its position in Stock Yards Bancorp by 92.1% during the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after buying an additional 396 shares during the period. Empowered Funds LLC bought a new position in shares of Stock Yards Bancorp during the fourth quarter worth $60,000. Finally, Covestor Ltd lifted its holdings in shares of Stock Yards Bancorp by 138.4% in the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after acquiring an additional 678 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Company Profile

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.