Stock Yards Bancorp Inc. (SYBT) Downgraded by Zacks Investment Research
According to Zacks, “Stock Yards Bancorp Inc. is a bank holding company. Its main subsidiary is Stock Yards Bank & Trust Company. The company provides banking, trust, investment management, private banking, and brokerage services. It operates in and around Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp Inc. is headquartered in Louisville, Kentucky. “
Stock Yards Bancorp (NASDAQ:SYBT) opened at 32.96 on Tuesday. The company has a 50-day moving average of $32.46 and a 200-day moving average of $29.00. Stock Yards Bancorp has a one year low of $22.67 and a one year high of $34.42. The stock has a market capitalization of $742.03 million, a price-to-earnings ratio of 19.24 and a beta of 0.69.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 27th. The company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. Stock Yards Bancorp had a net margin of 28.15% and a return on equity of 13.30%. On average, equities analysts forecast that Stock Yards Bancorp will post $1.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were paid a $0.18 dividend. The ex-dividend date was Thursday, September 8th. This represents a $0.72 dividend on an annualized basis and a yield of 2.18%. Stock Yards Bancorp’s dividend payout ratio is currently 41.78%.
In other Stock Yards Bancorp news, insider Kathy C. Thompson sold 3,100 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $29.59, for a total value of $91,729.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kathy C. Thompson sold 5,500 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $31.86, for a total transaction of $175,230.00. Following the completion of the transaction, the insider now owns 42,639 shares in the company, valued at $1,358,478.54. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Harvey Investment Co. LLC increased its position in shares of Stock Yards Bancorp by 37.5% in the second quarter. Harvey Investment Co. LLC now owns 64,502 shares of the company’s stock worth $1,821,000 after buying an additional 17,600 shares in the last quarter. Aperio Group LLC bought a new position in shares of Stock Yards Bancorp during the first quarter worth approximately $261,000. Bank of New York Mellon Corp increased its position in shares of Stock Yards Bancorp by 51.8% in the second quarter. Bank of New York Mellon Corp now owns 148,634 shares of the company’s stock worth $4,197,000 after buying an additional 50,735 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Stock Yards Bancorp by 33.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 31,911 shares of the company’s stock worth $901,000 after buying an additional 7,927 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Stock Yards Bancorp by 52.8% in the second quarter. PNC Financial Services Group Inc. now owns 225,171 shares of the company’s stock worth $6,357,000 after buying an additional 77,788 shares in the last quarter. Institutional investors and hedge funds own 42.46% of the company’s stock.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Company operates through two segments: commercial banking, and investment management and trust. Its commercial banking segment provides a range of loan and deposit products to individual consumers and businesses.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Stock Yards Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stock Yards Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.