Stock Yards Bancorp (NASDAQ:SYBT) Given “Market Perform” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Stock Yards Bancorp (NASDAQ:SYBT) in a research note issued to investors on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a $64.00 price target on the bank’s stock, up from their previous price target of $54.00.

Separately, Hovde Group increased their price objective on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an outperform rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stock Yards Bancorp has a consensus rating of Hold and an average target price of $62.50.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock opened at $63.60 on Thursday. The business’s fifty day simple moving average is $49.41 and its 200-day simple moving average is $47.71. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.87 billion, a PE ratio of 17.87 and a beta of 0.83. Stock Yards Bancorp has a 52 week low of $36.93 and a 52 week high of $64.51.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.10. The company had revenue of $123.96 million for the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.36%. Equities analysts forecast that Stock Yards Bancorp will post 3.48 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.89%. Stock Yards Bancorp’s dividend payout ratio is presently 33.71%.

Insider Activity

In related news, Director David P. Heintzman sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $47.05, for a total transaction of $141,150.00. Following the sale, the director now directly owns 113,070 shares of the company’s stock, valued at approximately $5,319,943.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors have recently modified their holdings of SYBT. Signaturefd LLC boosted its holdings in Stock Yards Bancorp by 121.7% in the fourth quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock valued at $79,000 after purchasing an additional 840 shares during the period. Quadrant Capital Group LLC grew its position in shares of Stock Yards Bancorp by 70.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock worth $99,000 after buying an additional 799 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Stock Yards Bancorp during the fourth quarter worth approximately $165,000. Quantbot Technologies LP purchased a new stake in shares of Stock Yards Bancorp during the first quarter worth approximately $195,000. Finally, German American Bancorp Inc. acquired a new stake in Stock Yards Bancorp in the fourth quarter valued at approximately $230,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.