Stock Yards Bancorp, Inc. (SYBT) Stock Rating Upgraded by Zacks Investment Research
Stock Yards Bancorp, Inc. (NASDAQ:SYBT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
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. “
Several other equities analysts have also commented on SYBT. Hilliard Lyons raised shares of Stock Yards Bancorp from an “underperform” rating to a “neutral” rating and set a $38.00 target price on the stock in a report on Thursday, May 25th. BidaskClub lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
Stock Yards Bancorp (NASDAQ:SYBT) opened at 36.65 on Friday. The firm has a market cap of $830.45 million, a price-to-earnings ratio of 19.92 and a beta of 0.68. Stock Yards Bancorp has a one year low of $31.86 and a one year high of $48.05. The stock’s 50 day moving average is $34.80 and its 200-day moving average is $38.04.
Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 26th. The bank reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.02). Stock Yards Bancorp had a net margin of 28.11% and a return on equity of 13.36%. The business had revenue of $36.91 million for the quarter, compared to the consensus estimate of $37.06 million. On average, equities research analysts expect that Stock Yards Bancorp will post $1.90 earnings per share for the current fiscal year.
In other Stock Yards Bancorp news, CEO David P. Heintzman sold 1,314 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $38.05, for a total transaction of $49,997.70. Following the completion of the sale, the chief executive officer now owns 169,309 shares of the company’s stock, valued at approximately $6,442,207.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David P. Heintzman sold 1,500 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $39.05, for a total transaction of $58,575.00. Following the sale, the chief executive officer now directly owns 167,809 shares of the company’s stock, valued at approximately $6,552,941.45. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 431 shares of company stock worth $15,495 and have sold 8,946 shares worth $326,494. 6.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at $261,000. The Manufacturers Life Insurance Company boosted its position in Stock Yards Bancorp by 0.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 98,638 shares of the bank’s stock valued at $3,837,000 after buying an additional 841 shares during the period. State Street Corp boosted its position in Stock Yards Bancorp by 4.8% during the 2nd quarter. State Street Corp now owns 415,829 shares of the bank’s stock valued at $16,181,000 after buying an additional 19,091 shares during the period. Voya Investment Management LLC boosted its position in Stock Yards Bancorp by 7.4% during the 2nd quarter. Voya Investment Management LLC now owns 13,637 shares of the bank’s stock valued at $530,000 after buying an additional 945 shares during the period. Finally, OxFORD Asset Management LLP boosted its position in Stock Yards Bancorp by 79.1% during the 2nd quarter. OxFORD Asset Management LLP now owns 21,080 shares of the bank’s stock valued at $820,000 after buying an additional 9,309 shares during the period. 48.13% of the stock is owned by institutional investors and hedge funds.
Stock Yards Bancorp Company Profile
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
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