Stock Yards Bancorp (NASDAQ:SYBT) Earns Market Perform Rating from Analysts at Raymond James Financial

Equities research analysts at Raymond James Financial began coverage on shares of Stock Yards Bancorp (NASDAQ:SYBT) in a report released on Wednesday. The brokerage set a “market perform” rating on the bank’s stock.

SYBT has been the subject of several other research reports. Stephens upped their target price on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. 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 report on Friday, June 26th. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and an average price target of $76.75.

Stock Yards Bancorp Stock Down 1.8%

NASDAQ SYBT traded down $1.36 during trading hours on Wednesday, hitting $75.32. The company’s stock had a trading volume of 31,187 shares, compared to its average volume of 170,591. The company has a market capitalization of $2.22 billion, a PE ratio of 15.50 and a beta of 0.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 52 week low of $61.51 and a 52 week high of $83.83. The company’s 50-day simple moving average is $72.97 and its two-hundred day simple moving average is $69.35.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. The firm had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. Research analysts anticipate that Stock Yards Bancorp will post 5.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the transaction, the president owned 53,376 shares in the company, valued at $3,772,615.68. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Stock Yards Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. increased its holdings in Stock Yards Bancorp by 37.7% during the 4th 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 position in shares of Stock Yards Bancorp by 146.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock worth $7,376,000 after buying an additional 67,440 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Stock Yards Bancorp by 352.5% during the third quarter. Tudor Investment Corp ET AL now owns 76,268 shares of the bank’s stock worth $5,338,000 after buying an additional 59,413 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Stock Yards Bancorp by 47.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 53,259 shares of the bank’s stock worth $3,728,000 after acquiring an additional 17,112 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Stock Yards Bancorp in the 3rd quarter worth about $746,000. 56.46% of the stock is currently owned by institutional investors.

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.