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

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

Several other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods upped their price target 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 price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.75.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $76.89 on Friday. The stock’s 50-day moving average is $77.97 and its two-hundred day moving average is $74.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. Stock Yards Bancorp has a 1-year low of $57.12 and a 1-year high of $83.83. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 17.68 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $95.32 million. Analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Insider Transactions at Stock Yards Bancorp

In related news, CEO James A. Hillebrand sold 2,162 shares of the company’s stock in a transaction dated 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 $8,939,569.44. This represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Dishman sold 2,802 shares of the company’s stock in a transaction dated 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 approximately $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. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

A number of large investors have recently made changes to their positions in SYBT. 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 valued at $93,793,000 after purchasing an additional 283,532 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Stock Yards Bancorp by 1,496.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock valued at $9,216,000 after purchasing an additional 109,382 shares during the period. Nuveen LLC acquired a new stake in shares of Stock Yards Bancorp in the 1st quarter valued at about $4,698,000. 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 valued at $88,289,000 after purchasing an additional 60,183 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in Stock Yards Bancorp by 87.8% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 128,300 shares of the bank’s stock worth $8,860,000 after acquiring an additional 60,000 shares during the period. 56.46% of the stock is owned by institutional investors and hedge funds.

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.