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

Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently issued reports on SYBT. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $82.00 to $90.00 in a research report on Thursday. Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the company an “equal weight” rating in a report on Thursday. Raymond James Financial began coverage on Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Piper Sandler reiterated a “neutral” rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $88.00.

Stock Yards Bancorp Price Performance

SYBT stock opened at $85.10 on Friday. The firm has a 50 day moving average of $76.44 and a 200 day moving average of $71.14. The stock has a market capitalization of $2.51 billion, a PE ratio of 16.95 and a beta of 0.68. Stock Yards Bancorp has a 52 week low of $61.51 and a 52 week high of $89.21. 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 posted its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, topping the consensus estimate of $1.08 by $0.23. The business had revenue of $114.67 million during the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.93%. Sell-side analysts forecast that Stock Yards Bancorp will post 5.15 earnings per share for the current year.

Insider Activity at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares in the company, valued at $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its holdings 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 worth $1,306,000 after acquiring an additional 237 shares in the last quarter. ProShare Advisors LLC raised its position in Stock Yards Bancorp by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock worth $312,000 after acquiring an additional 310 shares during the period. California State Teachers Retirement System lifted its holdings in Stock Yards Bancorp by 1.5% during the second 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 in the last quarter. Handelsbanken Fonder AB lifted its holdings in Stock Yards Bancorp by 7.5% during the fourth quarter. Handelsbanken Fonder AB now owns 5,700 shares of the bank’s stock valued at $370,000 after purchasing an additional 400 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Stock Yards Bancorp in the third quarter valued at about $28,000. Institutional investors and hedge funds 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.