Stock Yards Bancorp (SYBT) Stock Rating Lowered by Zacks Investment Research

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a 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. “

Several other analysts have also issued reports on SYBT. BidaskClub upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $40.00 price objective on shares of Stock Yards Bancorp in a report on Friday, January 26th.

Stock Yards Bancorp (SYBT) traded down $0.15 during midday trading on Wednesday, hitting $35.55. The stock had a trading volume of 24,300 shares, compared to its average volume of 49,519. Stock Yards Bancorp has a fifty-two week low of $31.90 and a fifty-two week high of $46.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $809.64, a price-to-earnings ratio of 21.42 and a beta of 0.62.

In other Stock Yards Bancorp news, insider Kathy C. Thompson sold 2,500 shares of Stock Yards Bancorp stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.33, for a total value of $98,325.00. Following the completion of the transaction, the insider now directly owns 39,940 shares of the company’s stock, valued at approximately $1,570,840.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kathy C. Thompson sold 3,324 shares of Stock Yards Bancorp stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $38.10, for a total value of $126,644.40. Following the completion of the transaction, the insider now directly owns 40,440 shares of the company’s stock, valued at $1,540,764. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 2,671 shares of company stock worth $102,008. 6.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Societe Generale acquired a new position in shares of Stock Yards Bancorp during the second quarter worth about $104,000. SG Americas Securities LLC acquired a new position in shares of Stock Yards Bancorp during the second quarter worth about $104,000. Schroder Investment Management Group grew its position in shares of Stock Yards Bancorp by 12.1% during the second quarter. Schroder Investment Management Group now owns 3,904 shares of the bank’s stock worth $110,000 after buying an additional 420 shares in the last quarter. Legal & General Group Plc grew its position in shares of Stock Yards Bancorp by 50.0% during the second quarter. Legal & General Group Plc now owns 3,947 shares of the bank’s stock worth $110,000 after buying an additional 1,315 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in shares of Stock Yards Bancorp by 784.3% during the second 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. 47.87% of the stock is owned by institutional investors.

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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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