Stock Yards Bancorp (NASDAQ:SYBT) Rating Increased to Hold at Wall Street Zen

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

A number of other brokerages have also commented on SYBT. Zacks Research raised Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Piper Sandler reiterated a “neutral” rating and issued a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Finally, Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $63.91 on Friday. Stock Yards Bancorp has a 12-month low of $60.75 and a 12-month high of $83.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 13.45 and a beta of 0.71. The business has a 50 day simple moving average of $66.67 and a 200 day simple moving average of $67.75.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%.The firm had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. On average, equities research analysts anticipate that Stock Yards Bancorp will post 4.16 EPS for the current year.

Institutional Trading of Stock Yards Bancorp

Large investors have recently added to or reduced their stakes in the business. Huntington National Bank increased its holdings in shares of Stock Yards Bancorp by 15.0% in the third quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock valued at $87,000 after buying an additional 163 shares in the last quarter. Guidance Capital Inc. boosted its stake in shares of Stock Yards Bancorp by 1.9% during the 3rd quarter. Guidance Capital Inc. now owns 9,982 shares of the bank’s stock worth $678,000 after acquiring an additional 186 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Stock Yards Bancorp by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock worth $1,306,000 after acquiring an additional 237 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Stock Yards Bancorp by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock worth $312,000 after acquiring an additional 310 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Stock Yards Bancorp by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock worth $2,031,000 after acquiring an additional 383 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

About Stock Yards Bancorp

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.