Stock Yards Bancorp Inc. (NASDAQ:SYBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Stock Yards Bancorp Inc. is a bank holding company. Its main subsidiary is Stock Yards Bank & Trust Company. The company provides banking, trust, investment management, private banking, and brokerage services. It operates in and around Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp Inc. is headquartered in Louisville, Kentucky. “
Stock Yards Bancorp (NASDAQ:SYBT) opened at 33.85 on Tuesday. Stock Yards Bancorp has a 12 month low of $22.67 and a 12 month high of $34.42. The stock has a market cap of $762.07 million, a PE ratio of 19.76 and a beta of 0.69. The company has a 50-day moving average of $32.39 and a 200-day moving average of $28.98.
Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. Stock Yards Bancorp had a net margin of 28.15% and a return on equity of 13.30%. On average, equities analysts forecast that Stock Yards Bancorp will post $1.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.13%. Stock Yards Bancorp’s payout ratio is currently 41.78%.
In other Stock Yards Bancorp news, VP Nancy B. Davis sold 5,390 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $31.72, for a total value of $170,970.80. Following the completion of the transaction, the vice president now directly owns 103,734 shares in the company, valued at $3,290,442.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kathy C. Thompson sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $31.86, for a total transaction of $175,230.00. Following the completion of the transaction, the insider now owns 42,639 shares of the company’s stock, valued at $1,358,478.54. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of SYBT. Societe Generale purchased a new position in Stock Yards Bancorp during the second quarter worth $104,000. SG Americas Securities LLC bought a new position in shares of Stock Yards Bancorp during the second quarter worth $104,000. Schroder Investment Management Group raised its position in shares of Stock Yards Bancorp by 12.1% in the second quarter. Schroder Investment Management Group now owns 3,904 shares of the company’s stock worth $110,000 after buying an additional 420 shares in the last quarter. Legal & General Group Plc raised its position in shares of Stock Yards Bancorp by 50.0% in the second quarter. Legal & General Group Plc now owns 3,947 shares of the company’s stock worth $110,000 after buying an additional 1,315 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Stock Yards Bancorp by 158.6% in the second quarter. US Bancorp DE now owns 3,926 shares of the company’s stock worth $111,000 after buying an additional 2,408 shares in the last quarter. Institutional investors and hedge funds own 42.46% of the company’s stock.
Stock Yards Bancorp Company Profile
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Company operates through two segments: commercial banking, and investment management and trust. Its commercial banking segment provides a range of loan and deposit products to individual consumers and businesses.
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