Stock Yards Bancorp (NASDAQ:SYBT) Cut to “Equal Weight” at Stephens

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $76.00 price objective on the bank’s stock, up from their prior price objective of $70.00. Stephens’ price objective suggests a potential upside of 3.75% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Finally, Piper Sandler upped their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Stock Yards Bancorp has an average rating of “Hold” and an average price target of $69.25.

Stock Yards Bancorp Trading Down 1.6 %

Shares of NASDAQ SYBT opened at $73.25 on Friday. The firm has a 50 day moving average price of $64.52 and a two-hundred day moving average price of $56.55. The stock has a market cap of $2.15 billion, a P/E ratio of 20.12 and a beta of 0.81. Stock Yards Bancorp has a 52-week low of $42.35 and a 52-week high of $77.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. As a group, equities analysts forecast that Stock Yards Bancorp will post 3.76 EPS for the current year.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 2,700 shares of Stock Yards Bancorp stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the sale, the director now owns 29,786 shares in the company, valued at $1,878,603.02. The trade was a 8.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 15,700 shares of company stock valued at $1,054,023. 3.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Stock Yards Bancorp by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock valued at $46,536,000 after purchasing an additional 24,856 shares during the period. American Century Companies Inc. increased its position in Stock Yards Bancorp by 163.4% in the 2nd quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock valued at $7,076,000 after buying an additional 88,364 shares in the last quarter. Champlain Investment Partners LLC raised its stake in Stock Yards Bancorp by 4.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after buying an additional 50,730 shares during the period. Thoroughbred Financial Services LLC bought a new position in Stock Yards Bancorp in the second quarter worth approximately $1,154,000. Finally, Stock Yards Bank & Trust Co. grew its stake in Stock Yards Bancorp by 0.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock valued at $60,755,000 after acquiring an additional 9,573 shares during the period. 56.46% of the stock is owned by institutional investors.

Stock Yards Bancorp Company Profile

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.