Wall Street Zen Downgrades Stock Yards Bancorp (NASDAQ:SYBT) to Strong Sell

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Sunday.

A number of other brokerages also recently issued reports on SYBT. Piper Sandler reaffirmed 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. Keefe, Bruyette & Woods raised their price objective on Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Raymond James Financial started coverage on Stock Yards Bancorp in a research note on Wednesday. They set a “hold” rating on the stock. Stephens upped their target price on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and an average price target of $76.75.

Stock Yards Bancorp Stock Up 0.6%

Shares of NASDAQ:SYBT traded up $0.44 during trading on Friday, reaching $76.26. The stock had a trading volume of 131,927 shares, compared to its average volume of 221,882. The firm’s 50-day simple moving average is $73.20 and its 200 day simple moving average is $69.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $83.83. The company has a market capitalization of $2.25 billion, a P/E ratio of 15.69 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The firm had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. As a group, research analysts expect that Stock Yards Bancorp will post 4.96 EPS for the current fiscal year.

Insider Activity at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the sale, the president directly owned 53,376 shares of the company’s stock, valued at $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Stock Yards Bancorp in the third quarter valued at about $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Stock Yards Bancorp during the third quarter worth about $45,000. GAMMA Investing LLC lifted its holdings in shares of Stock Yards Bancorp by 92.1% during the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after purchasing an additional 396 shares during the period. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp in the fourth quarter valued at approximately $60,000. Finally, Covestor Ltd boosted its position in Stock Yards Bancorp by 138.4% in the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after buying an additional 678 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.