Stock Yards Bancorp (NASDAQ:SYBT) Stock Rating Upgraded by 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 report released on Sunday.

SYBT has been the subject of a number of other research reports. Raymond James Financial assumed coverage on Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating for the company. Stephens set a $87.00 target price on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods increased their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $82.00 to $90.00 in a research report on Thursday, July 30th. Finally, Piper Sandler reissued a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.00.

Stock Yards Bancorp Price Performance

SYBT stock opened at $83.15 on Friday. The stock has a market capitalization of $2.58 billion, a PE ratio of 16.56 and a beta of 0.68. The company’s 50-day moving average is $77.95 and its 200-day moving average is $71.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. Stock Yards Bancorp has a 1 year low of $61.51 and a 1 year high of $89.21.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, beating the consensus estimate of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%.The company had revenue of $114.71 million during the quarter, compared to the consensus estimate of $111.66 million. Equities research analysts expect that Stock Yards Bancorp will post 5.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares of the company’s stock, valued at approximately $3,772,615.68. The trade was a 2.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Laura L. Wells sold 6,823 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $86.29, for a total value of $588,756.67. Following the completion of the transaction, the director owned 9,580 shares in the company, valued at $826,658.20. This represents a 41.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

Several large investors have recently bought and sold shares of the stock. Main Street Financial Solutions LLC bought a new stake in shares of Stock Yards Bancorp in the 2nd quarter worth $210,000. BlackRock Inc. bought a new position in shares of Stock Yards Bancorp during the second quarter valued at about $165,219,000. Deutsche Bank AG bought a new position in shares of Stock Yards Bancorp during the second quarter valued at about $2,217,000. Global Retirement Partners LLC purchased a new position in Stock Yards Bancorp during the second quarter worth about $31,000. Finally, Bank of New York Mellon Corp purchased a new position in Stock Yards Bancorp during the second quarter worth about $9,585,000. 56.46% of the stock is currently owned by institutional investors.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.