Wall Street Zen Upgrades Stock Yards Bancorp (NASDAQ:SYBT) to “Hold”

Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms have also recently weighed in on SYBT. Weiss Ratings upgraded shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods raised their price target on Stock Yards Bancorp from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Finally, Piper Sandler upped their price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.67.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $66.94 on Friday. 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 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.97 billion, a PE ratio of 14.62 and a beta of 0.66. The stock has a 50-day moving average price of $71.20 and a 200-day moving average price of $74.69.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, October 29th. The bank reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.08. Stock Yards Bancorp had a net margin of 24.50% and a return on equity of 13.89%. The company had revenue of $120.27 million for the quarter, compared to analysts’ expectations of $100.00 million. As a group, equities analysts forecast that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total value of $180,137.84. Following the completion of the sale, the chief executive officer owned 107,292 shares in the company, valued at approximately $8,939,569.44. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David L. Hardy bought 2,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $66.53 per share, for a total transaction of $133,060.00. Following the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at approximately $133,060. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors have recently added to or reduced their stakes in SYBT. Vanguard Group Inc. increased its position in shares of Stock Yards Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 1,945,817 shares of the bank’s stock valued at $136,188,000 after acquiring an additional 17,055 shares during the period. Victory Capital Management Inc. increased its holdings in Stock Yards Bancorp by 26.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,358,138 shares of the bank’s stock valued at $93,793,000 after purchasing an additional 283,532 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Stock Yards Bancorp by 4.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank’s stock valued at $88,289,000 after purchasing an additional 60,183 shares during the period. American Century Companies Inc. raised its position in Stock Yards Bancorp by 0.8% during the 1st quarter. American Century Companies Inc. now owns 279,671 shares of the bank’s stock valued at $19,314,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Curi Capital LLC lifted its holdings in Stock Yards Bancorp by 2.4% in the 2nd quarter. Curi Capital LLC now owns 262,990 shares of the bank’s stock worth $20,823,000 after buying an additional 6,275 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.