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

Wall Street Zen upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a strong sell rating to a sell rating in a research report sent to investors on Sunday.

Several other research firms also recently weighed in on SYBT. Zacks Research downgraded shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Piper Sandler restated a “neutral” rating and set a $78.00 price target (up from $76.00) on shares of Stock Yards Bancorp in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their price objective on shares of 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. Stephens lifted their price objective on shares of 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. Finally, Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $76.00.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $69.24 on Friday. Stock Yards Bancorp has a twelve month low of $61.51 and a twelve month high of $83.83. The firm has a fifty day simple moving average of $68.11 and a 200 day simple moving average of $67.55. The company has a market capitalization of $2.04 billion, a PE ratio of 14.25 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

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

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio is 26.34%.

Institutional Trading of Stock Yards Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in Stock Yards Bancorp during the 3rd quarter worth approximately $28,000. Brown Brothers Harriman & Co. bought a new stake in Stock Yards Bancorp during the 3rd quarter worth approximately $45,000. GAMMA Investing LLC increased its holdings in Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after acquiring an additional 396 shares during the period. Empowered Funds LLC bought a new stake in Stock Yards Bancorp during the 4th quarter worth approximately $60,000. Finally, Covestor Ltd increased its holdings in Stock Yards Bancorp by 138.4% during the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock worth $76,000 after acquiring an additional 678 shares during the period. 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.