Stock Yards Bancorp, Inc. (SYBT) Stock Rating Upgraded by Zacks Investment Research
Stock Yards Bancorp, Inc. (NASDAQ:SYBT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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. “
A number of other research analysts have also recently issued reports on SYBT. Hilliard Lyons upgraded shares of Stock Yards Bancorp from an “underperform” rating to a “neutral” rating and set a $38.00 target price for the company in a research note on Thursday, May 25th. BidaskClub cut shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.
Shares of Stock Yards Bancorp (NASDAQ SYBT) traded up 1.87% during mid-day trading on Wednesday, hitting $32.65. The stock had a trading volume of 44,559 shares. Stock Yards Bancorp has a one year low of $31.11 and a one year high of $48.05. The stock has a market cap of $739.82 million, a price-to-earnings ratio of 17.74 and a beta of 0.68. The firm has a 50 day moving average of $35.13 and a 200 day moving average of $38.66.
Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, July 26th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.02. Stock Yards Bancorp had a net margin of 28.11% and a return on equity of 13.36%. The firm had revenue of $36.91 million during the quarter, compared to the consensus estimate of $37.06 million. On average, analysts forecast that Stock Yards Bancorp will post $1.90 earnings per share for the current year.
In related news, CEO David P. Heintzman sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $39.05, for a total value of $58,575.00. Following the completion of the transaction, the chief executive officer now owns 167,809 shares in the company, valued at approximately $6,552,941.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathy C. Thompson sold 1,816 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $35.20, for a total transaction of $63,923.20. Following the completion of the transaction, the insider now owns 40,161 shares of the company’s stock, valued at approximately $1,413,667.20. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 295 shares of company stock valued at $10,697 and sold 5,480 shares valued at $202,467. Insiders own 6.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in Stock Yards Bancorp by 784.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,095 shares of the bank’s stock worth $120,000 after purchasing an additional 2,745 shares during the last quarter. US Bancorp DE raised its position in Stock Yards Bancorp by 1.2% in the 2nd quarter. US Bancorp DE now owns 3,973 shares of the bank’s stock worth $155,000 after purchasing an additional 47 shares during the last quarter. Victory Capital Management Inc. bought a new position in Stock Yards Bancorp in the 1st quarter worth approximately $159,000. SG Americas Securities LLC bought a new position in Stock Yards Bancorp in the 1st quarter worth approximately $194,000. Finally, Schroder Investment Management Group raised its position in Stock Yards Bancorp by 32.7% in the 1st quarter. Schroder Investment Management Group now owns 5,386 shares of the bank’s stock worth $222,000 after purchasing an additional 1,327 shares during the last quarter. Hedge funds and other institutional investors own 48.13% of the company’s stock.
Stock Yards Bancorp Company Profile
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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