Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
Separately, Zacks Investment Research downgraded Stock Yards Bancorp from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a report on Friday, January 5th.
Shares of Stock Yards Bancorp (NASDAQ SYBT) opened at $38.15 on Friday. The stock has a market capitalization of $856.95, a P/E ratio of 20.08 and a beta of 0.69. Stock Yards Bancorp has a 12-month low of $31.90 and a 12-month high of $46.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90.
In other Stock Yards Bancorp news, insider Kathy C. Thompson sold 3,324 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $38.10, for a total value of $126,644.40. Following the sale, the insider now owns 40,440 shares of the company’s stock, valued at approximately $1,540,764. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David P. Heintzman sold 1,264 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $39.55, for a total value of $49,991.20. Following the completion of the sale, the chief executive officer now directly owns 165,809 shares in the company, valued at approximately $6,557,745.95. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 3,160 shares of company stock worth $121,043 and sold 9,372 shares worth $365,453. Company insiders own 6.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Stock Yards Bancorp by 784.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,095 shares of the bank’s stock valued at $120,000 after purchasing an additional 2,745 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at $118,000. Victory Capital Management Inc. lifted its stake in shares of Stock Yards Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,596 shares of the bank’s stock valued at $179,000 after acquiring an additional 687 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Stock Yards Bancorp by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock valued at $223,000 after acquiring an additional 46 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Stock Yards Bancorp in the 3rd quarter valued at $233,000. 47.71% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: This piece was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/01/20/stock-yards-bancorp-sybt-lowered-to-sell-at-bidaskclub.html.
About Stock Yards Bancorp
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.
Receive News & Ratings for Stock Yards Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stock Yards Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.