Stock Yards Bancorp (NASDAQ:SYBT) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other brokerages have also commented on SYBT. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. 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 note on Friday, January 30th. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday, March 6th. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Stock Yards Bancorp has an average rating of “Hold” and a consensus target price of $79.00.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $66.29 on Monday. The business has a fifty day moving average of $66.58 and a 200 day moving average of $67.45. 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 0.30, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 13.96 and a beta of 0.71.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly 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 business had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. As a group, research analysts expect that Stock Yards Bancorp will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors 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 1.9%. The ex-dividend date is Monday, March 16th. Stock Yards Bancorp’s payout ratio is currently 26.95%.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds have recently bought and sold shares of SYBT. EP Wealth Advisors LLC acquired a new position in shares of Stock Yards Bancorp during the 4th quarter worth approximately $250,000. Empowered Funds LLC acquired a new stake in Stock Yards Bancorp in the 4th quarter valued at $60,000. Voloridge Investment Management LLC increased its holdings in Stock Yards Bancorp by 35.7% in the 4th quarter. Voloridge Investment Management LLC now owns 78,394 shares of the bank’s stock worth $5,092,000 after acquiring an additional 20,605 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in Stock Yards Bancorp by 53.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 117,402 shares of the bank’s stock worth $7,625,000 after acquiring an additional 41,134 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Stock Yards Bancorp during the fourth quarter worth $703,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

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.