Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Sunday.
Several other analysts have also commented on SYBT. Piper Sandler reaffirmed a “neutral” rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Raymond James Financial initiated coverage on Stock Yards Bancorp in a report on Wednesday. They issued a “hold” rating for the company. Zacks Research lowered Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Finally, Stephens lifted their target price on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $76.75.
View Our Latest Stock Analysis on SYBT
Stock Yards Bancorp Stock Performance
Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The business had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. Equities research analysts predict that Stock Yards Bancorp will post 4.96 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, President Philip Poindexter sold 1,221 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the transaction, the president owned 53,376 shares of the company’s stock, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in SYBT. Raymond James Financial Inc. increased its stake in Stock Yards Bancorp by 1.3% during the third quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock worth $1,306,000 after purchasing an additional 237 shares during the period. ProShare Advisors LLC raised its holdings in Stock Yards Bancorp by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock valued at $312,000 after acquiring an additional 310 shares in the last quarter. California State Teachers Retirement System lifted its stake in Stock Yards Bancorp by 1.5% in the second quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock worth $2,031,000 after acquiring an additional 383 shares during the last quarter. GAMMA Investing LLC lifted its stake in Stock Yards Bancorp by 92.1% in the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after acquiring an additional 396 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Stock Yards Bancorp by 7.5% during the 4th quarter. Handelsbanken Fonder AB now owns 5,700 shares of the bank’s stock worth $370,000 after acquiring an additional 400 shares in the last quarter. 56.46% of the stock is 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.
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