Stock Yards Bancorp, Inc. (SYBT) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) from a sell rating to a hold rating in a research note published on Friday.
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. “
SYBT has been the topic of a number of other reports. BidaskClub lowered shares of Stock Yards Bancorp from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Hilliard Lyons raised shares of Stock Yards Bancorp from an underperform rating to a neutral rating and set a $38.00 price target on the stock in a research report on Thursday, May 25th.
Stock Yards Bancorp (NASDAQ SYBT) opened at 36.30 on Friday. Stock Yards Bancorp has a 1-year low of $31.86 and a 1-year high of $48.05. The firm has a market capitalization of $822.52 million, a price-to-earnings ratio of 19.73 and a beta of 0.68. The stock’s 50 day moving average is $34.80 and its 200 day moving average is $38.04.
Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, July 26th. The bank reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Stock Yards Bancorp had a net margin of 28.11% and a return on equity of 13.36%. The firm had revenue of $36.91 million for the quarter, compared to the consensus estimate of $37.06 million. Analysts predict that Stock Yards Bancorp will post $1.90 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, September 8th. Stock Yards Bancorp’s payout ratio is currently 43.24%.
In related news, insider Kathy C. Thompson sold 1,466 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $35.08, for a total transaction of $51,427.28. Following the completion of the sale, the insider now owns 40,161 shares in the company, valued at $1,408,847.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David P. Heintzman sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $36.30, for a total transaction of $72,600.00. Following the sale, the chief executive officer now owns 165,809 shares of the company’s stock, valued at approximately $6,018,866.70. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 431 shares of company stock valued at $15,495 and have sold 7,632 shares valued at $276,496. Company insiders own 6.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its holdings in Stock Yards Bancorp by 0.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,502 shares of the bank’s stock worth $224,000 after buying an additional 15 shares during the last quarter. Alps Advisors Inc. increased its holdings in Stock Yards Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 11,214 shares of the bank’s stock worth $436,000 after buying an additional 29 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Stock Yards Bancorp by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock worth $223,000 after buying an additional 46 shares during the last quarter. US Bancorp DE increased its holdings in Stock Yards Bancorp by 1.2% during the second quarter. US Bancorp DE now owns 3,973 shares of the bank’s stock worth $155,000 after buying an additional 47 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Stock Yards Bancorp by 1.7% during the second quarter. Wells Fargo & Company MN now owns 25,050 shares of the bank’s stock worth $975,000 after buying an additional 416 shares during the last quarter. Institutional investors and hedge funds own 48.13% of the company’s stock.
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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