Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $44.00 price target on the bank’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.88% from the stock’s previous close.

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. “

Stock Yards Bancorp (NASDAQ:SYBT) opened at $38.30 on Wednesday. Stock Yards Bancorp has a fifty-two week low of $31.90 and a fifty-two week high of $48.05. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The stock has a market cap of $868.28, a PE ratio of 20.68 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, October 25th. The bank reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The firm had revenue of $37.27 million for the quarter, compared to analyst estimates of $37.81 million. Stock Yards Bancorp had a return on equity of 13.51% and a net margin of 28.57%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. sell-side analysts forecast that Stock Yards Bancorp will post 1.92 EPS for the current year.

In related news, CEO David P. Heintzman sold 1,264 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $39.55, for a total value of $49,991.20. Following the sale, the chief executive officer now owns 165,809 shares in the company, valued at $6,557,745.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathy C. Thompson sold 1,466 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $35.08, for a total value of $51,427.28. Following the completion of the sale, the insider now owns 40,161 shares in the company, valued at approximately $1,408,847.88. The disclosure for this sale can be found here. In the last quarter, insiders purchased 299 shares of company stock worth $10,996 and sold 10,338 shares worth $391,155. 6.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Stock Yards Bancorp in the third quarter valued at approximately $118,000. BNP Paribas Arbitrage SA boosted its position in Stock Yards Bancorp by 784.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,095 shares of the bank’s stock valued at $120,000 after buying an additional 2,745 shares during the last quarter. US Bancorp DE boosted its position in Stock Yards Bancorp by 1.2% in the second quarter. US Bancorp DE now owns 3,973 shares of the bank’s stock valued at $155,000 after buying an additional 47 shares during the last quarter. Victory Capital Management Inc. boosted its position in Stock Yards Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,596 shares of the bank’s stock worth $179,000 after purchasing an additional 687 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in Stock Yards Bancorp by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock worth $223,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 47.71% of the company’s stock.

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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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