Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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. “

SYBT has been the topic of a number of other reports. ValuEngine downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. BidaskClub downgraded shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Stock Yards Bancorp has a consensus rating of “Hold” and an average price target of $42.00.

Shares of Stock Yards Bancorp stock opened at $29.14 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The firm has a market cap of $662.80 million, a price-to-earnings ratio of 15.26 and a beta of 0.61. Stock Yards Bancorp has a 12-month low of $29.10 and a 12-month high of $41.00.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 24th. The bank reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). The business had revenue of $39.95 million during the quarter, compared to analysts’ expectations of $40.95 million. Stock Yards Bancorp had a return on equity of 15.10% and a net margin of 27.08%. During the same period in the prior year, the company earned $0.51 earnings per share. On average, analysts forecast that Stock Yards Bancorp will post 2.38 earnings per share for the current year.

In other Stock Yards Bancorp news, Director Carl G. Herde bought 5,000 shares of Stock Yards Bancorp stock in a transaction dated Monday, October 29th. The shares were purchased at an average cost of $30.75 per share, with a total value of $153,750.00. Following the transaction, the director now directly owns 31,182 shares of the company’s stock, valued at $958,846.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Bickel III bought 1,000 shares of Stock Yards Bancorp stock in a transaction dated Thursday, September 27th. The stock was acquired at an average cost of $36.00 per share, for a total transaction of $36,000.00. Following the completion of the transaction, the director now directly owns 6,725 shares in the company, valued at $242,100. The disclosure for this purchase can be found here. Insiders bought a total of 7,356 shares of company stock worth $238,397 over the last ninety days. Insiders own 6.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its position in Stock Yards Bancorp by 116.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,026 shares of the bank’s stock valued at $146,000 after purchasing an additional 2,168 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at about $206,000. Sigma Planning Corp purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at about $251,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at about $283,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Stock Yards Bancorp during the 3rd quarter valued at about $453,000. 50.04% of the stock is currently owned by institutional investors.

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, certificates of deposit, money market deposits, and time deposits.

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