Stock Yards Bancorp (NASDAQ:SYBT) Raised to “Hold” at Wall Street Zen

Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Friday, March 6th. Zacks Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Piper Sandler reissued a “neutral” rating and issued a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Stock Yards Bancorp has an average rating of “Moderate Buy” and an average price target of $79.00.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $63.91 on Friday. The stock’s fifty day moving average is $66.67 and its two-hundred day moving average is $67.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $1.89 billion, a P/E ratio of 13.45 and a beta of 0.72. Stock Yards Bancorp has a fifty-two week low of $60.75 and a fifty-two week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $104.47 million during the quarter, compared to analyst estimates of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. Research analysts expect that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new stake in Stock Yards Bancorp during the fourth quarter worth $250,000. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp in the fourth quarter valued at $60,000. Voloridge Investment Management LLC lifted its stake in shares of Stock Yards Bancorp by 35.7% in the 4th quarter. Voloridge Investment Management LLC now owns 78,394 shares of the bank’s stock valued at $5,092,000 after purchasing an additional 20,605 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in shares of Stock Yards Bancorp by 53.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 117,402 shares of the bank’s stock valued at $7,625,000 after purchasing an additional 41,134 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Stock Yards Bancorp during the 4th quarter worth $703,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

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.