Stock Yards Bancorp (SYBT) Downgraded to Hold at BidaskClub

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Separately, Zacks Investment Research raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 29th.

Stock Yards Bancorp (NASDAQ SYBT) traded up $0.55 during trading hours on Tuesday, hitting $38.20. The stock had a trading volume of 34,317 shares, compared to its average volume of 48,799. The company has a market capitalization of $866.02, a price-to-earnings ratio of 20.16 and a beta of 0.68. Stock Yards Bancorp has a 52 week low of $31.90 and a 52 week high of $48.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, October 25th. The bank reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $37.27 million during 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 period in the prior year, the company earned $0.46 earnings per share. sell-side analysts forecast that Stock Yards Bancorp will post 1.92 EPS for the current fiscal year.

In related news, insider Kathy C. Thompson sold 1,466 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $35.08, for a total value of $51,427.28. Following the completion of the transaction, the insider now directly owns 40,161 shares of the company’s stock, valued at approximately $1,408,847.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathy C. Thompson sold 2,284 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $39.62, for a total value of $90,492.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 299 shares of company stock valued at $10,996 and have sold 10,338 shares valued at $391,155. 6.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Stock Yards Bancorp in the 3rd quarter worth approximately $118,000. BNP Paribas Arbitrage SA grew its holdings 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 buying an additional 2,745 shares in the last quarter. US Bancorp DE grew its holdings 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 buying an additional 47 shares in the last quarter. Victory Capital Management Inc. grew its holdings 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 buying an additional 687 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings 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 buying an additional 46 shares in the last quarter. 47.71% of the stock is owned by institutional investors and hedge funds.

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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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