Wall Street Zen Upgrades Stock Yards Bancorp (NASDAQ:SYBT) to “Hold”

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

Other equities analysts have also recently issued reports about the company. Hovde Group upgraded Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Friday, March 6th. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Piper Sandler restated a “neutral” rating and issued a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Down 2.3%

Shares of Stock Yards Bancorp stock opened at $63.91 on Friday. The business has a 50-day moving average price of $66.67 and a 200 day moving average price of $67.75. Stock Yards Bancorp has a fifty-two week low of $60.75 and a fifty-two week high of $83.83. The firm has a market cap of $1.89 billion, a P/E ratio of 13.45 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 (NASDAQ:SYBT) last released its earnings results on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, topping 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. On average, sell-side analysts forecast that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stock Yards Bancorp

Several large investors have recently added to or reduced their stakes in SYBT. AQR Capital Management LLC boosted its holdings in shares of Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after acquiring an additional 2,297 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Stock Yards Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock worth $1,051,000 after acquiring an additional 658 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Stock Yards Bancorp by 28.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock worth $3,636,000 after acquiring an additional 11,758 shares during the period. Jane Street Group LLC bought a new stake in Stock Yards Bancorp in the 1st quarter valued at about $3,400,000. Finally, Cetera Investment Advisers bought a new stake in Stock Yards Bancorp in the 2nd quarter valued at about $365,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Company Profile

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.