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

Wall Street Zen upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a hold rating in a research note released on Sunday.

A number of other research firms also recently issued reports on SYBT. Weiss Ratings upgraded shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Piper Sandler reissued a “neutral” rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Stephens set a $87.00 price target on shares of Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $82.00 to $90.00 in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods upped their price objective on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.00.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $83.58 on Friday. Stock Yards Bancorp has a 1 year low of $61.51 and a 1 year high of $89.21. The company has a market capitalization of $2.60 billion, a PE ratio of 16.65 and a beta of 0.68. The business has a fifty day moving average price of $77.71 and a two-hundred day moving average price of $71.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. The company had revenue of $114.71 million for the quarter, compared to analysts’ expectations of $111.66 million. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%. Analysts forecast that Stock Yards Bancorp will post 5.14 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.5%. Stock Yards Bancorp’s dividend payout ratio is 25.50%.

Insider Transactions at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the transaction, the president owned 53,376 shares in the company, valued at $3,772,615.68. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura L. Wells sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the sale, the director directly owned 9,580 shares in the company, valued at approximately $826,658.20. This trade represents a 41.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Deprince Race & Zollo Inc. increased its holdings in Stock Yards Bancorp by 146.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock worth $7,376,000 after acquiring an additional 67,440 shares during the period. Sei Investments Co. grew its position in shares of Stock Yards Bancorp by 182.6% during the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock valued at $3,652,000 after purchasing an additional 35,592 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Stock Yards Bancorp during the 1st quarter valued at $1,677,000. Natixis Advisors LLC increased its holdings in shares of Stock Yards Bancorp by 8.9% in the fourth quarter. Natixis Advisors LLC now owns 158,189 shares of the bank’s stock worth $10,274,000 after purchasing an additional 12,976 shares during the period. Finally, Thrivent Financial for Lutherans bought a new position in shares of Stock Yards Bancorp in the fourth quarter worth $7,461,000. Institutional investors own 56.46% of the company’s stock.

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.