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

Stock Yards Bancorp (NASDAQ:SYBT - Free Report) had its price objective raised by Piper Sandler from $65.50 to $69.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a neutral rating on the bank's stock.

Other equities analysts also recently issued research reports about the stock. Stephens upped their price objective on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday. Hovde Group downgraded shares of Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $67.00 to $68.00 in a report on Thursday. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of "Hold" and a consensus price target of $67.75.

Stock Yards Bancorp Stock Up 0.8 %

Shares of Stock Yards Bancorp stock traded up $0.56 on Thursday, reaching $66.51. The stock had a trading volume of 142,247 shares, compared to its average volume of 104,396. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.96 billion, a P/E ratio of 18.39 and a beta of 0.82. The company has a 50 day moving average price of $60.75 and a 200 day moving average price of $53.60. Stock Yards Bancorp has a 1 year low of $36.93 and a 1 year high of $67.12.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. The firm had revenue of $123.96 million during the quarter, compared to analyst estimates of $83.90 million. As a group, equities research analysts forecast that Stock Yards Bancorp will post 3.69 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were issued a dividend of $0.31 per share. The ex-dividend date 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 Activity at Stock Yards Bancorp

In related news, EVP William Dishman sold 2,204 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $62.31, for a total value of $137,331.24. Following the completion of the transaction, the executive vice president now owns 34,444 shares of the company's stock, valued at approximately $2,146,205.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stock Yards Bancorp news, Director Richard A. Lechleiter bought 650 shares of Stock Yards Bancorp stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $56.40 per share, for a total transaction of $36,660.00. Following the completion of the transaction, the director now directly owns 5,680 shares of the company's stock, valued at approximately $320,352. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William Dishman sold 2,204 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $62.31, for a total transaction of $137,331.24. Following the transaction, the executive vice president now owns 34,444 shares in the company, valued at $2,146,205.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,457 shares of company stock worth $1,335,466. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SYBT. Ballentine Partners LLC acquired a new position in shares of Stock Yards Bancorp in the 3rd quarter valued at $219,000. Creative Planning lifted its stake in Stock Yards Bancorp by 7.6% in the third quarter. Creative Planning now owns 46,346 shares of the bank's stock worth $2,873,000 after acquiring an additional 3,289 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in Stock Yards Bancorp during the 3rd quarter worth approximately $206,000. Independence Bank of Kentucky increased its position in shares of Stock Yards Bancorp by 10.5% in the 3rd quarter. Independence Bank of Kentucky now owns 15,889 shares of the bank's stock valued at $985,000 after purchasing an additional 1,515 shares during the last quarter. Finally, Barlow Wealth Partners Inc. lifted its position in shares of Stock Yards Bancorp by 1.7% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank's stock worth $3,805,000 after purchasing an additional 1,069 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

About Stock Yards Bancorp

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.