Zacks Research Downgrades Stock Yards Bancorp (NASDAQ:SYBT) to Hold

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Hovde Group upgraded shares of 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 note on Friday, March 6th. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Piper Sandler reissued 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. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.00.

Stock Yards Bancorp Stock Up 1.7%

NASDAQ:SYBT opened at $66.29 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $66.58 and its two-hundred day moving average is $67.45. Stock Yards Bancorp has a 52 week low of $60.75 and a 52 week high of $83.83. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 13.96 and a beta of 0.71.

Stock Yards Bancorp (NASDAQ:SYBT) last posted 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 firm 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 EPS for the current year.

Institutional Investors Weigh In On Stock Yards Bancorp

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