Stock Yards Bancorp (NASDAQ:SYBT) Cut to Sell at Wall Street Zen

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

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

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $64.62 on Friday. The company’s 50 day simple moving average is $67.50 and its 200-day simple moving average is $69.14. The firm has a market cap of $1.90 billion, a PE ratio of 13.60 and a beta of 0.71. Stock Yards Bancorp has a 12-month low of $60.75 and a 12-month high of $83.83. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. The business had revenue of $104.47 million for the quarter, compared to analysts’ expectations of $102.42 million. As a group, equities analysts predict that Stock Yards Bancorp will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SYBT. Quarry LP acquired a new stake in Stock Yards Bancorp in the third quarter valued at about $28,000. Brown Brothers Harriman & Co. purchased a new stake in Stock Yards Bancorp in the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC increased its position in Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after purchasing an additional 396 shares during the period. Empowered Funds LLC purchased a new position in shares of Stock Yards Bancorp during the 4th quarter worth approximately $60,000. Finally, Covestor Ltd raised its stake in shares of Stock Yards Bancorp by 138.4% during the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock worth $76,000 after buying an additional 678 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

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.