Wall Street Zen Downgrades Stock Yards Bancorp (NASDAQ:SYBT) to Sell

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

Other equities research analysts also recently issued reports about the company. Piper Sandler reissued a “neutral” rating and issued a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Finally, Hovde Group raised their price target on shares of Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $79.00.

Stock Yards Bancorp Trading Up 1.1%

Stock Yards Bancorp stock opened at $67.69 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 debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 14.25 and a beta of 0.69. The company has a 50 day moving average price of $67.40 and a 200 day moving average price of $70.93.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results 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. The company had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.91%. Research analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current year.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David L. Hardy bought 2,000 shares of the stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of $66.53 per share, with a total value of $133,060.00. Following the completion of the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $133,060. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new stake in Stock Yards Bancorp during the third quarter worth approximately $1,638,000. Callan Family Office LLC acquired a new stake in shares of Stock Yards Bancorp in the second quarter worth $355,000. Envestnet Asset Management Inc. boosted its holdings in shares of Stock Yards Bancorp by 1,496.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock worth $9,216,000 after buying an additional 109,382 shares during the period. Squarepoint Ops LLC grew its stake in Stock Yards Bancorp by 412.3% in the 2nd quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock valued at $2,536,000 after buying an additional 25,845 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Stock Yards Bancorp by 144.6% in the 3rd quarter. SG Americas Securities LLC now owns 14,077 shares of the bank’s stock worth $985,000 after acquiring an additional 8,321 shares during the period. 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.