Stock Yards Bancorp (NASDAQ:SYBT) Rating Lowered to Sell at Wall Street Zen

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other research analysts also recently commented on SYBT. Piper Sandler lifted their price target on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods lifted their price target on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Finally, Weiss Ratings downgraded shares of Stock Yards Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.75.

Stock Yards Bancorp Trading Up 2.6%

Shares of SYBT opened at $68.18 on Friday. The firm’s 50 day simple moving average is $74.54 and its 200 day simple moving average is $74.65. The company has a market capitalization of $2.01 billion, a P/E ratio of 15.67 and a beta of 0.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. Stock Yards Bancorp has a 1-year low of $60.75 and a 1-year high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. The business had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.32 million. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. Sell-side analysts forecast that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO James A. Hillebrand sold 2,162 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total value of $180,137.84. Following the transaction, the chief executive officer owned 107,292 shares in the company, valued at approximately $8,939,569.44. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank grew its holdings in shares of Stock Yards Bancorp by 1,405.6% in the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after purchasing an additional 1,012 shares during the last quarter. Archer Investment Corp bought a new stake in Stock Yards Bancorp in the second quarter valued at $105,000. KBC Group NV bought a new stake in Stock Yards Bancorp in the first quarter valued at $114,000. Sei Investments Co. bought a new stake in Stock Yards Bancorp in the second quarter valued at $207,000. Finally, Truist Financial Corp bought a new stake in Stock Yards Bancorp in the second quarter valued at $207,000. Institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.