Stock Yards Bancorp (NASDAQ:SYBT) Downgraded to Sell Rating by Wall Street Zen

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research analysts also recently issued reports on SYBT. Piper Sandler restated a “neutral” rating and set a $76.00 price objective (up previously from $75.00) on shares of Stock Yards Bancorp in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Finally, Hovde Group upped their price target on Stock Yards Bancorp from $73.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Up 1.1%

Shares of SYBT stock opened at $67.69 on Friday. Stock Yards Bancorp has a 12 month low of $60.75 and a 12 month high of $83.83. The firm has a market cap of $1.99 billion, a PE ratio of 14.25 and a beta of 0.69. The stock has a 50 day moving average of $67.40 and a 200-day moving average of $70.93. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.31.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.91%. On average, equities analysts predict that Stock Yards Bancorp will post 4.16 EPS for the current year.

Insider Activity at Stock Yards Bancorp

In related news, Director David L. Hardy purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average price of $66.53 per share, with a total value of $133,060.00. Following the purchase, the director directly owned 2,000 shares in the company, valued at $133,060. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth about $1,638,000. Callan Family Office LLC acquired a new position in Stock Yards Bancorp in the second quarter valued at about $355,000. Envestnet Asset Management Inc. boosted its position in Stock Yards Bancorp by 1,496.7% in the second quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock valued at $9,216,000 after buying an additional 109,382 shares in the last quarter. Squarepoint Ops LLC grew its stake in Stock Yards Bancorp by 412.3% during the second quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock worth $2,536,000 after buying an additional 25,845 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Stock Yards Bancorp by 144.6% during the third quarter. SG Americas Securities LLC now owns 14,077 shares of the bank’s stock worth $985,000 after buying an additional 8,321 shares in the last quarter. 56.46% of the stock is owned by institutional investors.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.