Stock Yards Bancorp (NASDAQ:SYBT) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a strong sell rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the company. Hovde Group upgraded Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Friday, March 6th. Stephens raised their target price on Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Piper Sandler restated a “neutral” rating and set a $78.00 target price (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Finally, Zacks Research downgraded Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.00.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $71.99 on Friday. Stock Yards Bancorp has a 1-year low of $61.51 and a 1-year high of $83.83. The firm has a market capitalization of $2.12 billion, a PE ratio of 14.81 and a beta of 0.70. The business’s 50 day moving average is $67.53 and its 200-day moving average is $67.44. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. The business had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. Sell-side analysts predict that Stock Yards Bancorp will post 5.1 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th were given a $0.32 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.28 annualized dividend and a yield of 1.8%. Stock Yards Bancorp’s payout ratio is presently 26.34%.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors have recently bought and sold shares of the business. Huntington National Bank raised its position in Stock Yards Bancorp by 15.0% in the 3rd quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock valued at $87,000 after purchasing an additional 163 shares during the last quarter. Guidance Capital Inc. raised its position in Stock Yards Bancorp by 1.9% in the 3rd quarter. Guidance Capital Inc. now owns 9,982 shares of the bank’s stock valued at $678,000 after purchasing an additional 186 shares during the last quarter. Raymond James Financial Inc. raised its position in Stock Yards Bancorp by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock valued at $1,306,000 after purchasing an additional 237 shares during the last quarter. ProShare Advisors LLC raised its position in Stock Yards Bancorp by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock valued at $312,000 after purchasing an additional 310 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Stock Yards Bancorp by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock valued at $2,031,000 after purchasing an additional 383 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

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.