BidaskClub downgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a strong sell rating in a research note released on Thursday.

Separately, Zacks Investment Research raised shares of Stock Yards Bancorp from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Thursday, June 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $42.00.

NASDAQ:SYBT opened at $37.15 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The company has a market cap of $845.05 million, a price-to-earnings ratio of 17.28 and a beta of 0.53. Stock Yards Bancorp has a fifty-two week low of $34.00 and a fifty-two week high of $41.90.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 25th. The bank reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. The company had revenue of $40.11 million for the quarter, compared to the consensus estimate of $39.04 million. Stock Yards Bancorp had a net margin of 26.61% and a return on equity of 14.66%. equities analysts predict that Stock Yards Bancorp will post 2.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, September 14th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.23. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 52.36%.

In other news, CEO David P. Heintzman sold 2,571 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $38.90, for a total value of $100,011.90. Following the transaction, the chief executive officer now owns 170,552 shares of the company’s stock, valued at approximately $6,634,472.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders bought 865 shares of company stock worth $33,356. Insiders own 6.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Citadel Advisors LLC raised its stake in shares of Stock Yards Bancorp by 3.9% in the 1st quarter. Citadel Advisors LLC now owns 34,415 shares of the bank’s stock valued at $1,208,000 after acquiring an additional 1,281 shares during the period. Aperio Group LLC raised its stake in shares of Stock Yards Bancorp by 12.2% in the 2nd quarter. Aperio Group LLC now owns 12,836 shares of the bank’s stock valued at $490,000 after acquiring an additional 1,399 shares during the period. Swiss National Bank raised its stake in shares of Stock Yards Bancorp by 6.2% in the 1st quarter. Swiss National Bank now owns 37,523 shares of the bank’s stock valued at $1,317,000 after acquiring an additional 2,200 shares during the period. Wells Fargo & Company MN raised its stake in shares of Stock Yards Bancorp by 5.3% in the 1st quarter. Wells Fargo & Company MN now owns 43,371 shares of the bank’s stock valued at $1,523,000 after acquiring an additional 2,201 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Stock Yards Bancorp by 66.1% in the 1st quarter. Citigroup Inc. now owns 5,619 shares of the bank’s stock valued at $197,000 after acquiring an additional 2,236 shares during the period. 47.55% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, certificates of deposit, money market deposits, and time deposits.

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