Stock Yards Bancorp (NASDAQ:SYBT) Downgraded to “Sell” Rating by Wall Street Zen

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

Several other equities analysts also recently commented on the company. Piper Sandler restated a “neutral” rating and set a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Hovde Group upgraded Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Friday. Zacks Research upgraded Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $64.63 on Friday. The firm has a market capitalization of $1.91 billion, a PE ratio of 13.61 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 12-month low of $60.75 and a 12-month high of $83.83. The firm has a 50-day moving average price of $67.57 and a 200 day moving average price of $69.40.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%.The company had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. Research analysts anticipate that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Stock Yards Bancorp in the third quarter worth $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Stock Yards Bancorp in the third quarter valued at $45,000. GAMMA Investing LLC raised its holdings in shares of Stock Yards Bancorp by 92.1% in the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after buying an additional 396 shares during the last quarter. Empowered Funds LLC acquired a new position in Stock Yards Bancorp during the 4th quarter worth about $60,000. Finally, Covestor Ltd lifted its position in Stock Yards Bancorp by 138.4% during the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock worth $76,000 after buying an additional 678 shares in the last quarter. Institutional investors 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.