Stock Yards Bancorp (NASDAQ:SYBT) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Stock Yards Bancorp (NASDAQ:SYBT) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Other research 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 target for the company in a research report on Friday, March 6th. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Finally, 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. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $79.00.

Stock Yards Bancorp Price Performance

Shares of SYBT opened at $66.53 on Monday. The business’s 50-day moving average is $66.49 and its two-hundred day moving average is $67.45. The company has a market capitalization of $1.96 billion, a P/E ratio of 14.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99. Stock Yards Bancorp has a fifty-two week low of $60.75 and a fifty-two week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $104.47 million during the quarter, compared to analysts’ expectations of $102.42 million. Research analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. Stock Yards Bancorp’s payout ratio is currently 26.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Stock Yards Bancorp by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock worth $493,000 after buying an additional 2,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Stock Yards Bancorp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after acquiring an additional 658 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Stock Yards Bancorp by 28.8% in the first 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 last quarter. Jane Street Group LLC acquired a new stake in shares of Stock Yards Bancorp in the first quarter worth approximately $3,400,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Stock Yards Bancorp during the second quarter worth approximately $365,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

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.