Stock Yards Bancorp (NASDAQ:SYBT) Rating Increased to Hold at Wall Street Zen

Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts have also recently commented on SYBT. Piper Sandler reiterated a “neutral” rating and issued a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Finally, Hovde Group boosted their price target on 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.00.

Stock Yards Bancorp Trading Down 4.0%

NASDAQ SYBT opened at $64.14 on Friday. Stock Yards Bancorp has a 52 week low of $60.75 and a 52 week high of $83.83. The company has a 50 day moving average price of $67.79 and a 200 day moving average price of $69.83. 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 $1.89 billion, a PE ratio of 13.50 and a beta of 0.72.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $104.47 million for the quarter, compared to analyst estimates of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.91%. As a group, sell-side analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its holdings in shares of Stock Yards Bancorp by 15.0% during the 3rd quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock valued at $87,000 after purchasing an additional 163 shares in the last quarter. Guidance Capital Inc. increased its holdings in Stock Yards Bancorp by 1.9% in the third quarter. Guidance Capital Inc. now owns 9,982 shares of the bank’s stock valued at $678,000 after buying an additional 186 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Stock Yards Bancorp by 1.3% in the third quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock valued at $1,306,000 after buying an additional 237 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Stock Yards Bancorp by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock worth $312,000 after acquiring an additional 310 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Stock Yards Bancorp by 6.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,869 shares of the bank’s stock worth $464,000 after acquiring an additional 373 shares in the last quarter. 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.