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

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

A number of other equities analysts have also recently issued reports on SYBT. Keefe, Bruyette & Woods increased their target price on Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Piper Sandler increased their target price on Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.75.

Stock Yards Bancorp Price Performance

Shares of SYBT stock opened at $76.89 on Friday. The stock has a 50 day moving average of $77.97 and a two-hundred day moving average of $74.34. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Stock Yards Bancorp has a 12 month low of $57.12 and a 12 month high of $83.83. The company has a market capitalization of $2.27 billion, a P/E ratio of 17.68 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.10. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%.The company had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.32 million. As a group, equities analysts expect that Stock Yards Bancorp will post 4.16 EPS for the current year.

Insider Buying and Selling at Stock Yards Bancorp

In other news, CEO James A. Hillebrand sold 2,162 shares of Stock Yards Bancorp stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total value of $180,137.84. Following the completion of the sale, the chief executive officer directly owned 107,292 shares of the company’s stock, valued at approximately $8,939,569.44. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Dishman sold 2,802 shares of Stock Yards Bancorp stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total value of $218,836.20. Following the completion of the sale, the executive vice president directly owned 31,594 shares of the company’s stock, valued at $2,467,491.40. This trade represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Stock Yards Bancorp by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 1,888,056 shares of the bank’s stock worth $130,389,000 after purchasing an additional 24,564 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Stock Yards Bancorp by 26.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,358,138 shares of the bank’s stock worth $93,793,000 after purchasing an additional 283,532 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Stock Yards Bancorp by 4.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank’s stock worth $88,289,000 after purchasing an additional 60,183 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Stock Yards Bancorp by 0.8% in the 1st quarter. American Century Companies Inc. now owns 279,671 shares of the bank’s stock worth $19,314,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Curi Capital LLC boosted its position in shares of Stock Yards Bancorp by 2.4% in the 2nd quarter. Curi Capital LLC now owns 262,990 shares of the bank’s stock worth $20,823,000 after purchasing an additional 6,275 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.