Shares of Stock Yards Bancorp Inc (NASDAQ:SYBT) have earned a consensus broker rating score of 3.00 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a hold recommendation.
Brokers have set a 1-year consensus price target of $40.00 for the company and are anticipating that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given Stock Yards Bancorp an industry rank of 44 out of 265 based on the ratings given to its competitors.
SYBT has been the topic of several analyst reports. Zacks Investment Research raised Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, December 6th. BidaskClub lowered Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $40.00 target price on shares of Stock Yards Bancorp in a report on Friday, January 26th.
Stock Yards Bancorp (SYBT) traded up $0.95 during mid-day trading on Friday, reaching $36.85. The company’s stock had a trading volume of 36,000 shares, compared to its average volume of 48,168. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The company has a market cap of $814.18, a PE ratio of 22.20 and a beta of 0.62. Stock Yards Bancorp has a 1 year low of $31.90 and a 1 year high of $46.35.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be issued a dividend of $0.23 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, March 16th. Stock Yards Bancorp’s dividend payout ratio is 50.60%.
In related news, Director Paul J. Bickel III bought 2,510 shares of Stock Yards Bancorp stock in a transaction dated Tuesday, December 26th. The shares were bought at an average cost of $38.15 per share, with a total value of $95,756.50. Following the acquisition, the director now owns 4,250 shares in the company, valued at approximately $162,137.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathy C. Thompson sold 2,500 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $39.33, for a total value of $98,325.00. Following the sale, the insider now directly owns 39,940 shares in the company, valued at $1,570,840.20. The disclosure for this sale can be found here. Over the last three months, insiders have bought 2,671 shares of company stock worth $102,008. 6.20% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SYBT. Teachers Advisors LLC boosted its stake in Stock Yards Bancorp by 2.0% in the second quarter. Teachers Advisors LLC now owns 52,722 shares of the bank’s stock valued at $2,051,000 after buying an additional 1,055 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Stock Yards Bancorp by 33.8% in the third quarter. Wells Fargo & Company MN now owns 33,506 shares of the bank’s stock valued at $1,273,000 after buying an additional 8,456 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Stock Yards Bancorp by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 98,638 shares of the bank’s stock valued at $3,837,000 after buying an additional 841 shares in the last quarter. Walthausen & Co. LLC boosted its stake in Stock Yards Bancorp by 15.6% in the third quarter. Walthausen & Co. LLC now owns 319,448 shares of the bank’s stock valued at $12,139,000 after buying an additional 43,160 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Stock Yards Bancorp by 5.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 97,023 shares of the bank’s stock valued at $3,687,000 after buying an additional 5,135 shares in the last quarter. 47.90% of the stock is currently owned by institutional investors.
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About Stock Yards Bancorp
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
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