Stock Yards Bancorp (NASDAQ:SYBT) Shares Up 4.3%

Stock Yards Bancorp, Inc. (NASDAQ:SYBT)’s stock price was up 4.3% during mid-day trading on Friday . The stock traded as high as $44.81 and last traded at $44.81. Approximately 41,288 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 77,014 shares. The stock had previously closed at $42.98.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SYBT shares. Piper Sandler started coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price target on the stock. Hovde Group started coverage on Stock Yards Bancorp in a research report on Monday, March 4th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.00.

Stock Yards Bancorp Trading Up 4.3 %

The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 11.71 and a beta of 0.81. The business has a 50-day moving average of $45.75 and a two-hundred day moving average of $45.95. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, January 24th. The bank reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Stock Yards Bancorp had a return on equity of 13.20% and a net margin of 24.54%. The firm had revenue of $119.66 million for the quarter, compared to analyst estimates of $82.60 million. Research analysts predict that Stock Yards Bancorp, Inc. will post 3.37 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio is 32.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in Stock Yards Bancorp during the second quarter worth about $28,000. Ensign Peak Advisors Inc bought a new position in Stock Yards Bancorp during the third quarter worth about $87,000. Signaturefd LLC lifted its stake in Stock Yards Bancorp by 121.7% during the fourth quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock worth $79,000 after purchasing an additional 840 shares during the period. FMR LLC lifted its stake in Stock Yards Bancorp by 19.7% during the second quarter. FMR LLC now owns 1,588 shares of the bank’s stock worth $95,000 after purchasing an additional 261 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in 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 purchasing an additional 799 shares during the period. Institutional investors 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.