Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $44.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.96% from the stock’s previous close.

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 up $0.70 during midday trading on Wednesday, reaching $39.30. 61,200 shares of the company traded hands, compared to its average volume of 49,026. Stock Yards Bancorp has a one year low of $31.90 and a one year high of $48.05. The stock has a market cap of $875.09, a PE ratio of 20.32 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Stock Yards Bancorp had a net margin of 28.57% and a return on equity of 13.51%. The company had revenue of $37.27 million during the quarter, compared to analysts’ expectations of $37.81 million. During the same quarter in the prior year, the company earned $0.46 EPS. research analysts anticipate that Stock Yards Bancorp will post 1.92 earnings per share for the current fiscal year.

In other news, CEO David P. Heintzman sold 1,264 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.55, for a total value of $49,991.20. Following the completion of the sale, the chief executive officer now owns 165,809 shares of the company’s stock, valued at approximately $6,557,745.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kathy C. Thompson sold 2,284 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.62, for a total transaction of $90,492.08. The disclosure for this sale can be found here. In the last three months, insiders bought 299 shares of company stock valued at $10,996 and sold 10,338 shares valued at $391,155. Corporate insiders own 6.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Alps Advisors Inc. lifted its holdings in shares of Stock Yards Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 11,214 shares of the bank’s stock worth $436,000 after acquiring an additional 29 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Stock Yards Bancorp by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock worth $223,000 after acquiring an additional 46 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Stock Yards Bancorp by 1.2% in the 2nd quarter. US Bancorp DE now owns 3,973 shares of the bank’s stock worth $155,000 after acquiring an additional 47 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Stock Yards Bancorp by 1.7% in the 2nd quarter. Wells Fargo & Company MN now owns 25,050 shares of the bank’s stock worth $975,000 after acquiring an additional 416 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Stock Yards Bancorp by 5.9% in the 1st quarter. Bank of America Corp DE now owns 7,490 shares of the bank’s stock worth $304,000 after acquiring an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 47.71% of the company’s stock.

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Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.

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