Stock Yards Bancorp (NASDAQ:SYBT) Price Target Raised to $69.00 at Piper Sandler

Stock Yards Bancorp (NASDAQ:SYBT) had its price target hoisted by Piper Sandler from $65.50 to $69.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $67.00 to $68.00 in a research report on Thursday. Finally, Stephens boosted their price target on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and one has issued 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 price target of $67.75.

Stock Yards Bancorp Trading Up 0.8 %

Stock Yards Bancorp stock opened at $66.51 on Thursday. Stock Yards Bancorp has a 1 year low of $36.93 and a 1 year high of $67.12. The firm’s 50 day moving average price is $60.96 and its 200-day moving average price is $53.69. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $1.96 billion, a P/E ratio of 18.68 and a beta of 0.82.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. On average, equities analysts predict that Stock Yards Bancorp will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.86%. Stock Yards Bancorp’s dividend payout ratio is 34.83%.

Insider Transactions at Stock Yards Bancorp

In related news, Director Richard A. Lechleiter purchased 650 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $56.40 per share, for a total transaction of $36,660.00. Following the acquisition, the director now owns 5,680 shares of the company’s stock, valued at approximately $320,352. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $63.07, for a total transaction of $170,289.00. Following the completion of the transaction, the director now owns 29,786 shares in the company, valued at $1,878,603.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Lechleiter bought 650 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $56.40 per share, with a total value of $36,660.00. Following the transaction, the director now directly owns 5,680 shares of the company’s stock, valued at approximately $320,352. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 15,457 shares of company stock worth $961,846. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Stock Yards Bancorp in the 2nd quarter valued at $45,000. Wesbanco Bank Inc. bought a new position in shares of Stock Yards Bancorp in the third quarter worth about $206,000. Ballentine Partners LLC bought a new position in shares of Stock Yards Bancorp in the third quarter worth about $219,000. Quantbot Technologies LP bought a new position in shares of Stock Yards Bancorp in the first quarter worth about $195,000. Finally, ProShare Advisors LLC lifted its holdings in Stock Yards Bancorp by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock valued at $239,000 after buying an additional 384 shares in the last quarter. 56.46% of the stock is owned by institutional investors.

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.