Stock Yards Bancorp (NASDAQ:SYBT) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold (c+) rating to a buy (b-) rating in a research note published on Saturday,Weiss Ratings reports.

SYBT has been the subject of a number of other research reports. Wall Street Zen lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Piper Sandler upped their price objective on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Stock Yards Bancorp currently has a consensus rating of “Hold” and an average target price of $83.67.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $67.50 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95. The company has a fifty day moving average of $73.69 and a two-hundred day moving average of $74.73. The stock has a market capitalization of $1.99 billion, a PE ratio of 15.52 and a beta of 0.62. Stock Yards Bancorp has a fifty-two week low of $60.75 and a fifty-two week high of $83.83.

Stock Yards Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, September 15th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. Stock Yards Bancorp’s dividend payout ratio is currently 29.43%.

Insider Buying and Selling

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total value of $180,137.84. Following the transaction, the chief executive officer owned 107,292 shares of the company’s stock, valued at $8,939,569.44. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Huntington National Bank lifted its position in Stock Yards Bancorp by 1,405.6% in the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock valued at $86,000 after buying an additional 1,012 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Stock Yards Bancorp during the third quarter worth about $92,000. Archer Investment Corp acquired a new stake in shares of Stock Yards Bancorp during the second quarter worth about $105,000. KBC Group NV acquired a new stake in shares of Stock Yards Bancorp during the first quarter worth about $114,000. Finally, Sei Investments Co. acquired a new stake in shares of Stock Yards Bancorp during the second quarter worth about $207,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

About Stock Yards Bancorp

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.