Stock Yards Bancorp (NASDAQ:SYBT) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a strong sell rating to a sell rating in a research note released on Saturday.

A number of other brokerages also recently weighed in on SYBT. Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stock Yards Bancorp in a research report on Friday, July 10th. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the company from $82.00 to $90.00 in a report on Thursday. Raymond James Financial assumed coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Stock Yards Bancorp has a consensus rating of “Hold” and an average target price of $88.00.

Stock Yards Bancorp Trading Down 1.3%

Stock Yards Bancorp stock opened at $85.10 on Friday. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $89.21. The company’s fifty day moving average price is $76.44 and its two-hundred day moving average price is $71.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 16.95 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. The company had revenue of $114.67 million during the quarter, compared to analysts’ expectations of $111.66 million. Stock Yards Bancorp had a return on equity of 13.93% and a net margin of 25.41%. On average, analysts forecast that Stock Yards Bancorp will post 5.15 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp’s payout ratio is currently 25.50%.

Insider Buying and Selling at Stock Yards Bancorp

In related news, President Philip Poindexter sold 1,221 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the sale, the president owned 53,376 shares in the company, valued at $3,772,615.68. This represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Stock Yards Bank & Trust Co. increased its position in Stock Yards Bancorp by 37.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after acquiring an additional 366,475 shares during the period. Deprince Race & Zollo Inc. raised its stake in Stock Yards Bancorp by 146.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock valued at $7,376,000 after purchasing an additional 67,440 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in Stock Yards Bancorp by 352.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 76,268 shares of the bank’s stock valued at $5,338,000 after purchasing an additional 59,413 shares during the period. JPMorgan Chase & Co. boosted its holdings in Stock Yards Bancorp by 47.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 53,259 shares of the bank’s stock valued at $3,728,000 after purchasing an additional 17,112 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Stock Yards Bancorp by 8.9% in the 4th quarter. Natixis Advisors LLC now owns 158,189 shares of the bank’s stock valued at $10,274,000 after purchasing an additional 12,976 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

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.