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

Keefe, Bruyette & Woods reissued their market perform rating on shares of Stock Yards Bancorp (NASDAQ:SYBT) in a research report report published on Thursday morning, Benzinga reports. The firm currently has a $54.00 price objective on the bank’s stock, up from their prior price objective of $53.00.

SYBT has been the subject of several other reports. Hovde Group initiated coverage on shares of Stock Yards Bancorp in a research report on Monday, March 4th. They set an outperform rating for the company. Piper Sandler initiated coverage on shares of Stock Yards Bancorp in a research report on Wednesday, March 6th. They set a neutral rating and a $52.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $50.00.

Stock Yards Bancorp Trading Down 0.5 %

Stock Yards Bancorp stock traded down $0.25 during midday trading on Thursday, hitting $45.93. 21,914 shares of the stock were exchanged, compared to its average volume of 78,227. Stock Yards Bancorp has a fifty-two week low of $36.93 and a fifty-two week high of $53.15. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 12.97 and a beta of 0.81. The stock’s 50-day simple moving average is $45.66 and its 200 day simple moving average is $46.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.04). Stock Yards Bancorp had a return on equity of 12.70% and a net margin of 22.86%. The firm had revenue of $119.66 million for the quarter, compared to analyst estimates of $82.60 million. On average, equities analysts anticipate that Stock Yards Bancorp will post 3.4 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 33.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Thoroughbred Financial Services LLC grew its holdings in shares of Stock Yards Bancorp by 1.3% in the fourth quarter. Thoroughbred Financial Services LLC now owns 23,104 shares of the bank’s stock valued at $1,189,000 after purchasing an additional 302 shares in the last quarter. Raymond James & Associates grew its holdings in Stock Yards Bancorp by 3.7% during the 4th quarter. Raymond James & Associates now owns 8,775 shares of the bank’s stock worth $452,000 after acquiring an additional 314 shares in the last quarter. Swiss National Bank grew its holdings in Stock Yards Bancorp by 1.2% during the 3rd quarter. Swiss National Bank now owns 61,323 shares of the bank’s stock worth $2,409,000 after acquiring an additional 700 shares in the last quarter. Baldwin Brothers LLC MA grew its holdings in Stock Yards Bancorp by 6.2% during the 4th quarter. Baldwin Brothers LLC MA now owns 12,030 shares of the bank’s stock worth $619,000 after acquiring an additional 700 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Stock Yards Bancorp by 70.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock worth $99,000 after acquiring an additional 799 shares in the last quarter. 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.