Stock Yards Bancorp (NASDAQ:SYBT) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

SYBT has been the subject of a number of other research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $76.00 price target (up previously from $75.00) on shares of Stock Yards Bancorp in a research note on Friday. Hovde Group boosted their target price on shares of Stock Yards Bancorp from $73.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.00.

Stock Yards Bancorp Stock Up 1.1%

NASDAQ SYBT opened at $67.69 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 14.25 and a beta of 0.69. The company has a 50 day moving average of $67.40 and a 200-day moving average of $70.89. Stock Yards Bancorp has a 1-year low of $60.75 and a 1-year high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $104.47 million for the quarter, compared to analyst estimates of $102.42 million. Stock Yards Bancorp had a return on equity of 13.91% and a net margin of 24.83%. On average, equities research analysts expect that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.28 annualized dividend and a yield of 1.9%. Stock Yards Bancorp’s dividend payout ratio is presently 26.95%.

Insider Buying and Selling at Stock Yards Bancorp

In related news, Director David L. Hardy purchased 2,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $66.53 per share, for a total transaction of $133,060.00. Following the completion of the acquisition, the director owned 2,000 shares of the company’s stock, valued at approximately $133,060. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of SYBT. Quarry LP acquired a new stake in shares of Stock Yards Bancorp during the third quarter valued at about $28,000. Brown Brothers Harriman & Co. bought a new position in Stock Yards Bancorp in the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC boosted its position in Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after buying an additional 396 shares during the period. Huntington National Bank grew its holdings in Stock Yards Bancorp by 1,405.6% during the 2nd quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after acquiring an additional 1,012 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Stock Yards Bancorp in the 3rd quarter valued at approximately $92,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

About Stock Yards Bancorp

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.