Zacks Research Upgrades Stock Yards Bancorp (NASDAQ:SYBT) to Strong-Buy

Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $76.00 price objective (up previously from $75.00) on shares of Stock Yards Bancorp in a research report on Friday. Wall Street Zen lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Hovde Group raised 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 note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Down 0.3%

Stock Yards Bancorp stock opened at $68.40 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.31. The firm has a market cap of $2.02 billion, a P/E ratio of 14.40 and a beta of 0.72. The business has a fifty day moving average of $67.49 and a two-hundred day moving average of $70.70. Stock Yards Bancorp has a twelve month low of $60.75 and a twelve month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. Stock Yards Bancorp had a return on equity of 13.91% and a net margin of 24.83%. On average, 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 related news, Director David L. Hardy purchased 2,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of $66.53 per share, for a total transaction of $133,060.00. Following the purchase, the director owned 2,000 shares of the company’s stock, valued at $133,060. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of large investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D raised its stake in Stock Yards Bancorp by 21.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 33,559 shares of the bank’s stock worth $2,180,000 after acquiring an additional 5,953 shares during the last quarter. Comerica Bank grew its stake in Stock Yards Bancorp by 35.6% during the 4th quarter. Comerica Bank now owns 1,929 shares of the bank’s stock valued at $125,000 after purchasing an additional 506 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Stock Yards Bancorp by 56.4% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 4,882 shares of the bank’s stock valued at $317,000 after purchasing an additional 1,760 shares during the period. KBC Group NV raised its stake in shares of Stock Yards Bancorp by 83.1% in the fourth quarter. KBC Group NV now owns 1,520 shares of the bank’s stock worth $99,000 after purchasing an additional 690 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake 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 purchasing an additional 67,440 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other 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.