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

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts also recently commented on SYBT. Keefe, Bruyette & Woods cut their price objective on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the stock a “neutral” rating in a report on Thursday, April 24th. Finally, Stephens increased their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.25.

Stock Yards Bancorp Stock Down 0.5%

Stock Yards Bancorp stock opened at $73.58 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 18.92 and a beta of 0.73. Stock Yards Bancorp has a fifty-two week low of $44.36 and a fifty-two week high of $79.85. The stock’s fifty day moving average is $70.79 and its two-hundred day moving average is $72.54.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The firm had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. During the same period last year, the company earned $0.88 EPS. Analysts predict that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stock Yards Bancorp news, Director Laura L. Wells sold 1,000 shares of Stock Yards Bancorp stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the sale, the director now owns 18,954 shares of the company’s stock, valued at $1,459,458. The trade was a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Heintzman sold 3,419 shares of Stock Yards Bancorp stock in a transaction on Friday, April 25th. The shares were sold at an average price of $74.71, for a total value of $255,433.49. Following the sale, the director now directly owns 83,651 shares in the company, valued at $6,249,566.21. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $449,427 in the last quarter. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Stock Yards Bancorp by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,888,056 shares of the bank’s stock worth $130,389,000 after purchasing an additional 24,564 shares during the period. Victory Capital Management Inc. grew its stake in shares of Stock Yards Bancorp by 26.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,358,138 shares of the bank’s stock valued at $93,793,000 after purchasing an additional 283,532 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Stock Yards Bancorp by 4.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank’s stock valued at $88,289,000 after purchasing an additional 60,183 shares during the period. Dimensional Fund Advisors LP grew its position in Stock Yards Bancorp by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 965,396 shares of the bank’s stock worth $69,133,000 after acquiring an additional 24,011 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Stock Yards Bancorp by 0.8% during the 1st quarter. American Century Companies Inc. now owns 279,671 shares of the bank’s stock worth $19,314,000 after buying an additional 2,110 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.