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

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

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

Stock Yards Bancorp Trading Up 1.4%

Shares of Stock Yards Bancorp stock opened at $68.63 on Friday. The stock has a market cap of $2.02 billion, a P/E ratio of 14.45 and a beta of 0.72. The stock’s 50 day simple moving average is $67.46 and its 200-day simple moving average is $70.77. Stock Yards Bancorp has a 1-year low of $60.75 and a 1-year high of $83.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.99.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.91% and a net margin of 24.83%.The firm had revenue of $104.47 million during the quarter, compared to analysts’ expectations of $102.42 million. Analysts predict that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, December 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.95%.

Insider Transactions at Stock Yards Bancorp

In related news, Director David L. Hardy bought 2,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $66.53 per share, with a total value of $133,060.00. Following the completion of the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $133,060. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. boosted its position in shares of Stock Yards Bancorp by 37.7% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after purchasing an additional 366,475 shares during the period. Envestnet Asset Management Inc. lifted its stake in Stock Yards Bancorp by 1,496.7% during the second quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock worth $9,216,000 after purchasing an additional 109,382 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Stock Yards Bancorp by 146.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock worth $7,376,000 after buying an additional 67,440 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Stock Yards Bancorp by 352.5% in the third quarter. Tudor Investment Corp ET AL now owns 76,268 shares of the bank’s stock valued at $5,338,000 after buying an additional 59,413 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Stock Yards Bancorp by 47.2% in the third quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock valued at $12,859,000 after buying an additional 58,942 shares in the last quarter. 56.46% of the stock is owned by hedge funds and other 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.