Zacks Investment Research downgraded shares of Stock Yards Bancorp Inc. (NASDAQ:SYBT) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “Stock Yards Bancorp Inc. is a bank holding company. Its main subsidiary is Stock Yards Bank & Trust Company. The company provides banking, trust, investment management, private banking, and brokerage services. It operates in and around Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp Inc. is headquartered in Louisville, Kentucky. “

Shares of Stock Yards Bancorp (NASDAQ:SYBT) traded down 0.41% on Tuesday, reaching $33.96. The company’s stock had a trading volume of 14,672 shares. The firm has a 50-day moving average price of $32.29 and a 200 day moving average price of $28.94. The firm has a market capitalization of $764.54 million, a PE ratio of 19.82 and a beta of 0.69. Stock Yards Bancorp has a one year low of $22.67 and a one year high of $34.42.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Stock Yards Bancorp had a return on equity of 13.30% and a net margin of 28.15%. On average, analysts anticipate that Stock Yards Bancorp will post $1.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, September 8th. Stock Yards Bancorp’s dividend payout ratio is currently 41.78%.

In other news, insider Kathy C. Thompson sold 1,900 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $29.77, for a total transaction of $56,563.00. Following the transaction, the insider now directly owns 47,539 shares in the company, valued at approximately $1,415,236.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kathy C. Thompson sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $29.59, for a total value of $91,729.00. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Schroder Investment Management Group raised its stake in Stock Yards Bancorp by 12.1% in the second quarter. Schroder Investment Management Group now owns 3,904 shares of the company’s stock valued at $110,000 after buying an additional 420 shares during the last quarter. Legal & General Group Plc raised its stake in Stock Yards Bancorp by 50.0% in the second quarter. Legal & General Group Plc now owns 3,947 shares of the company’s stock valued at $110,000 after buying an additional 1,315 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in Stock Yards Bancorp by 42.9% in the second quarter. Commonwealth Equity Services Inc now owns 7,561 shares of the company’s stock valued at $213,000 after buying an additional 2,271 shares during the last quarter. US Bancorp DE raised its stake in Stock Yards Bancorp by 158.6% in the second quarter. US Bancorp DE now owns 3,926 shares of the company’s stock valued at $111,000 after buying an additional 2,408 shares during the last quarter. Finally, American Research & Management Co. raised its stake in Stock Yards Bancorp by 138.9% in the second quarter. American Research & Management Co. now owns 4,300 shares of the company’s stock valued at $121,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 42.46% of the company’s stock.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Company operates through two segments: commercial banking, and investment management and trust. Its commercial banking segment provides a range of loan and deposit products to individual consumers and businesses.

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