Raymond James Financial Initiates Coverage on Stock Yards Bancorp (NASDAQ:SYBT)

Investment analysts at Raymond James Financial began coverage on shares of Stock Yards Bancorp (NASDAQ:SYBT) in a research note issued on Wednesday. The firm set a “market perform” rating on the bank’s stock.

A number of other equities research analysts have also recently issued reports on SYBT. Zacks Research cut shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Wall Street Zen raised Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Piper Sandler restated a “neutral” rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Finally, Stephens increased their price objective on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.75.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT traded down $1.36 during midday trading on Wednesday, hitting $75.32. The company had a trading volume of 31,187 shares, compared to its average volume of 170,591. The company has a market capitalization of $2.22 billion, a PE ratio of 15.50 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 52-week low of $61.51 and a 52-week high of $83.83. The stock’s fifty day moving average price is $72.97 and its 200-day moving average price is $69.35.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The firm had revenue of $102.63 million during the quarter, compared to analysts’ expectations of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. As a group, research analysts expect that Stock Yards Bancorp will post 5.1 earnings per share for the current year.

Insider Activity at Stock Yards Bancorp

In related news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president owned 53,376 shares in the company, valued at $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of institutional investors have recently bought and sold shares of the stock. Stock Yards Bank & Trust Co. raised its position in shares of Stock Yards Bancorp by 37.7% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after acquiring an additional 366,475 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Stock Yards Bancorp by 146.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock valued at $7,376,000 after purchasing an additional 67,440 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in Stock Yards Bancorp by 352.5% in the third quarter. Tudor Investment Corp ET AL now owns 76,268 shares of the bank’s stock worth $5,338,000 after purchasing an additional 59,413 shares during the period. JPMorgan Chase & Co. lifted its position in Stock Yards Bancorp by 47.3% during the third quarter. JPMorgan Chase & Co. now owns 53,259 shares of the bank’s stock valued at $3,728,000 after buying an additional 17,112 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Stock Yards Bancorp during the 3rd quarter valued at $746,000. 56.46% of the stock is 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.