Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm currently has a $39.00 price target on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.95% from the company’s previous close.

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. “

Several other analysts have also issued reports on the company. BidaskClub upgraded Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 22nd. FIG Partners lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and set a $36.00 target price on the stock. in a research note on Tuesday, January 8th. Finally, ValuEngine upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 26th.

Shares of SYBT opened at $34.53 on Friday. The firm has a market capitalization of $786.97 million, a price-to-earnings ratio of 14.27 and a beta of 0.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. Stock Yards Bancorp has a 1 year low of $28.02 and a 1 year high of $41.00.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Thursday, January 24th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The firm had revenue of $41.49 million for the quarter, compared to analyst estimates of $40.40 million. Stock Yards Bancorp had a return on equity of 15.83% and a net margin of 31.70%. Research analysts anticipate that Stock Yards Bancorp will post 2.52 earnings per share for the current fiscal year.

In other news, insider Kathy C. Thompson sold 3,015 shares of Stock Yards Bancorp stock in a transaction on Friday, February 15th. The stock was sold at an average price of $36.15, for a total value of $108,992.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David P. Heintzman sold 2,865 shares of Stock Yards Bancorp stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $34.91, for a total value of $100,017.15. Following the completion of the transaction, the chairman now owns 142,437 shares of the company’s stock, valued at $4,972,475.67. The disclosure for this sale can be found here. Over the last quarter, insiders bought 971 shares of company stock valued at $33,541. 8.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc grew its position in shares of Stock Yards Bancorp by 7.8% in the fourth quarter. Legal & General Group Plc now owns 8,854 shares of the bank’s stock valued at $290,000 after purchasing an additional 638 shares in the last quarter. Bank of Montreal Can grew its position in Stock Yards Bancorp by 35.7% during the fourth quarter. Bank of Montreal Can now owns 2,704 shares of the bank’s stock worth $89,000 after buying an additional 712 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Stock Yards Bancorp during the fourth quarter worth about $29,000. First Hawaiian Bank grew its position in Stock Yards Bancorp by 28.4% during the first quarter. First Hawaiian Bank now owns 4,470 shares of the bank’s stock worth $151,000 after buying an additional 990 shares in the last quarter. Finally, Citigroup Inc. grew its position in Stock Yards Bancorp by 18.1% during the fourth quarter. Citigroup Inc. now owns 6,837 shares of the bank’s stock worth $224,000 after buying an additional 1,049 shares in the last quarter. Institutional investors own 50.76% of the company’s stock.

About Stock Yards Bancorp

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, money market deposits, and time deposits.

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