Analysts Set Stock Yards Bancorp, Inc. (NASDAQ:SYBT) PT at $76.75

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) have earned a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $76.75.

Several research analysts recently weighed in on the company. Stephens raised their target price on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Piper Sandler reissued a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Raymond James Financial assumed coverage on shares of Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Wall Street Zen cut shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Finally, Keefe, Bruyette & Woods increased their price objective on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd.

Insiders Place Their Bets

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the sale, the president owned 53,376 shares in the company, valued at approximately $3,772,615.68. The trade was a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at approximately $28,000. Brown Brothers Harriman & Co. acquired a new stake in Stock Yards Bancorp during the 3rd quarter valued at $45,000. GAMMA Investing LLC raised its stake in Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after purchasing an additional 396 shares during the period. Empowered Funds LLC purchased a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at $60,000. Finally, Covestor Ltd lifted its holdings in shares of Stock Yards Bancorp by 138.4% in the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after purchasing an additional 678 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Trending Headlines about Stock Yards Bancorp

Here are the key news stories impacting Stock Yards Bancorp this week:

• Positive Sentiment: Record Q2 earnings: Stock Yards Bancorp reported $40.1 million in second-quarter net income, or $1.31 per diluted share, compared with $1.15 per share a year earlier. EPS exceeded consensus estimates, with estimates varying from $1.08 to $1.17. Stock Yards Bancorp Reports Record Second Quarter Earnings
• Positive Sentiment: Revenue beat expectations: Q2 sales also came in ahead of Wall Street forecasts, reinforcing the view that the bank’s underlying business performance remains healthy. Stock Yards Bank Posts Better-Than-Expected Sales
• Positive Sentiment: Solid profitability: The company reported a 13.58% return on equity and a 25.06% net margin, metrics that may support confidence in management’s ability to generate shareholder returns. Stock Yards Bancorp Earnings Results
• Neutral Sentiment: Momentum and valuation: Coverage highlights improving share-price momentum and describes SYBT as potentially attractive, while the stock trades near its 12-month high at roughly 18 times earnings. Is Stock Yards Bancorp a Bargain?
• Negative Sentiment: Price-target overhang: Analysts recently set an average price target of $76.75, below the current trading range, suggesting some valuation caution after the stock’s rally. Analysts Set Stock Yards Bancorp Price Target

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $88.03 on Thursday. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 18.11 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. Stock Yards Bancorp has a 12 month low of $61.51 and a 12 month high of $89.22. The stock’s 50 day moving average price is $75.86 and its 200 day moving average price is $70.88.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The firm had revenue of $114.67 million during the quarter, compared to analyst estimates of $111.66 million. Equities research analysts anticipate that Stock Yards Bancorp will post 5 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.32 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.34%.

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.