Zacks Investment Research Lowers Stock Yards Bancorp Inc. (SYBT) to Hold
Stock Yards Bancorp Inc. (NASDAQ:SYBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Stock Yards Bancorp Inc. is a bank holding company. Its main subsidiary is Stock Yards Bank & Trust Company. The company provides banking, trust, investment management, private banking, and brokerage services. It operates in and around Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp Inc. is headquartered in Louisville, Kentucky. “
Shares of Stock Yards Bancorp (NASDAQ:SYBT) traded down 0.44% during trading on Tuesday, hitting $33.96. The stock had a trading volume of 112,170 shares. The firm has a 50 day moving average of $32.18 and a 200 day moving average of $28.90. Stock Yards Bancorp has a 1-year low of $22.67 and a 1-year high of $34.42. The company has a market capitalization of $764.54 million, a price-to-earnings ratio of 19.82 and a beta of 0.69.
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Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, July 27th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Stock Yards Bancorp had a return on equity of 13.30% and a net margin of 28.15%. Analysts expect that Stock Yards Bancorp will post $1.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, September 8th. Stock Yards Bancorp’s payout ratio is presently 41.78%.
In other news, insider Kathy C. Thompson sold 3,100 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $29.59, for a total transaction of $91,729.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David P. Heintzman sold 5,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $29.70, for a total value of $148,500.00. Following the sale, the chief executive officer now owns 181,657 shares in the company, valued at approximately $5,395,212.90. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Champlain Investment Partners LLC boosted its position in Stock Yards Bancorp by 48.9% in the second quarter. Champlain Investment Partners LLC now owns 793,278 shares of the company’s stock valued at $22,394,000 after buying an additional 260,493 shares in the last quarter. Vanguard Group Inc. boosted its position in Stock Yards Bancorp by 49.6% in the second quarter. Vanguard Group Inc. now owns 776,673 shares of the company’s stock valued at $21,926,000 after buying an additional 257,418 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its position in Stock Yards Bancorp by 49.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 753,580 shares of the company’s stock valued at $21,273,000 after buying an additional 249,684 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Stock Yards Bancorp by 52.0% in the second quarter. Dimensional Fund Advisors LP now owns 706,283 shares of the company’s stock valued at $19,938,000 after buying an additional 241,737 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Stock Yards Bancorp by 46.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 717,384 shares of the company’s stock valued at $20,252,000 after buying an additional 229,053 shares in the last quarter. Institutional investors and hedge funds own 42.46% of the company’s stock.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Company operates through two segments: commercial banking, and investment management and trust. Its commercial banking segment provides a range of loan and deposit products to individual consumers and businesses.
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