Stock Yards Bancorp (NASDAQ:SYBT) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT – Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other brokerages also recently weighed in on SYBT. Keefe, Bruyette & Woods lifted their price target on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Piper Sandler boosted their target price on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.75.

View Our Latest Stock Analysis on Stock Yards Bancorp

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $75.91 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. Stock Yards Bancorp has a 1-year low of $57.12 and a 1-year high of $83.83. The company has a market capitalization of $2.24 billion, a P/E ratio of 17.45 and a beta of 0.73. The firm’s 50 day simple moving average is $77.85 and its two-hundred day simple moving average is $74.36.

Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.10. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. The business had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.32 million. Research analysts expect that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. Stock Yards Bancorp’s payout ratio is currently 28.51%.

Insiders Place Their Bets

In related news, EVP William Dishman sold 2,802 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total transaction of $218,836.20. Following the sale, the executive vice president owned 31,594 shares of the company’s stock, valued at $2,467,491.40. This represents a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James A. Hillebrand sold 2,162 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total transaction of $180,137.84. Following the sale, the chief executive officer directly owned 107,292 shares in the company, valued at approximately $8,939,569.44. The trade was a 1.98% decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Stock Yards Bancorp by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,888,056 shares of the bank’s stock valued at $130,389,000 after acquiring an additional 24,564 shares during the last quarter. Victory Capital Management Inc. increased its position in Stock Yards Bancorp by 26.4% during the first quarter. Victory Capital Management Inc. now owns 1,358,138 shares of the bank’s stock valued at $93,793,000 after acquiring an additional 283,532 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Stock Yards Bancorp by 4.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank’s stock valued at $88,289,000 after acquiring an additional 60,183 shares during the last quarter. American Century Companies Inc. increased its position in Stock Yards Bancorp by 0.8% during the first quarter. American Century Companies Inc. now owns 279,671 shares of the bank’s stock valued at $19,314,000 after acquiring an additional 2,110 shares during the last quarter. Finally, Curi Capital LLC increased its position in Stock Yards Bancorp by 2.4% during the second quarter. Curi Capital LLC now owns 262,990 shares of the bank’s stock valued at $20,823,000 after acquiring an additional 6,275 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

(Get Free Report)

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.

Recommended Stories